# EDGAR Filing Document

**Accession Number:** 0000810016
**File Stem:** 0000940400-25-010030
**Filing Date:** 2025-11
**Character Count:** 38814
**Document Hash:** 2f5f80d53fba60384adc59d5dc4503b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-010030.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-010030

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05017
- **FILM NUMBER:** 251513969

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

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

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

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

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

## Series and Classes Contracts Data

### Macquarie VIP Mid Cap Growth Series (Series ID: S000006228)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017162 | Service      |  |
| C000190647 | Standard     |  |

## Nport-Ex

## Schedule of investments
Macquarie VIP Mid Cap Growth Series

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 98.60%♣** | &nbsp;&nbsp;**Common Stocks — 98.60%♣** | &nbsp;&nbsp;**Common Stocks — 98.60%♣** |
| &nbsp;&nbsp;Communication Services — 1.20% | &nbsp;&nbsp;Communication Services — 1.20% | &nbsp;&nbsp;Communication Services — 1.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pinterest Class A † | &nbsp;&nbsp;&nbsp;&nbsp;145355 | $4676070 |
|  |  | &nbsp;&nbsp; 4676070 |
| &nbsp;&nbsp;Consumer Discretionary — 20.14% | &nbsp;&nbsp;Consumer Discretionary — 20.14% | &nbsp;&nbsp;Consumer Discretionary — 20.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amer Sports † | &nbsp;&nbsp;&nbsp;&nbsp;83469 | &nbsp;&nbsp; 2900548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boot Barn Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;32483 | &nbsp;&nbsp; 5383083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dutch Bros Class A † | &nbsp;&nbsp;&nbsp;&nbsp;66690 | &nbsp;&nbsp; 3490554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expedia Group | &nbsp;&nbsp;&nbsp;&nbsp;34349 | &nbsp;&nbsp; 7342099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Floor & Decor Holdings Class A † | &nbsp;&nbsp;&nbsp;&nbsp;96613 | &nbsp;&nbsp; 7120378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On Holding Class A † | &nbsp;&nbsp;&nbsp;&nbsp;125014 | &nbsp;&nbsp; 5294343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Planet Fitness Class A † | &nbsp;&nbsp;&nbsp;&nbsp;23088 | &nbsp;&nbsp; 2396534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool | &nbsp;&nbsp;&nbsp;&nbsp;23683 | &nbsp;&nbsp; 7343388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royal Caribbean Cruises | &nbsp;&nbsp;&nbsp;&nbsp;43849 | &nbsp;&nbsp; 14188659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SharkNinja † | &nbsp;&nbsp;&nbsp;&nbsp;57645 | &nbsp;&nbsp; 5946082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stubhub Holdings Class A † | &nbsp;&nbsp;&nbsp;&nbsp;204614 | &nbsp;&nbsp; 3445700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tapestry | &nbsp;&nbsp;&nbsp;&nbsp;56609 | &nbsp;&nbsp; 6409271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tractor Supply | &nbsp;&nbsp;&nbsp;&nbsp;122854 | &nbsp;&nbsp; 6986707 |
|  |  | &nbsp;&nbsp; 78247346 |
| &nbsp;&nbsp;Consumer Staples — 1.37% | &nbsp;&nbsp;Consumer Staples — 1.37% | &nbsp;&nbsp;Consumer Staples — 1.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Casey's General Stores | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9402 | &nbsp;&nbsp; 5315139 |
|  |  | &nbsp;&nbsp; 5315139 |
| &nbsp;&nbsp;Financials — 7.41% | &nbsp;&nbsp;Financials — 7.41% | &nbsp;&nbsp;Financials — 7.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brown & Brown | &nbsp;&nbsp;&nbsp;&nbsp;53919 | &nbsp;&nbsp; 5057063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corpay † | &nbsp;&nbsp;&nbsp;&nbsp;16766 | &nbsp;&nbsp; 4829614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Houlihan Lokey | &nbsp;&nbsp;&nbsp;&nbsp;12273 | &nbsp;&nbsp; 2519892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinsale Capital Group | &nbsp;&nbsp;&nbsp;&nbsp;11125 | &nbsp;&nbsp; 4731018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LPL Financial Holdings | &nbsp;&nbsp;&nbsp;&nbsp;21865 | &nbsp;&nbsp; 7274267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toast Class A † | &nbsp;&nbsp;&nbsp;&nbsp;119638 | &nbsp;&nbsp; 4367983 |
|  |  | &nbsp;&nbsp; 28779837 |
| &nbsp;&nbsp;Healthcare — 17.86% | &nbsp;&nbsp;Healthcare — 17.86% | &nbsp;&nbsp;Healthcare — 17.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Align Technology † | &nbsp;&nbsp;&nbsp;&nbsp;31155 | &nbsp;&nbsp; 3901229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alnylam Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;24046 | &nbsp;&nbsp; 10964976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ascendis Pharma ADR † | &nbsp;&nbsp;&nbsp;&nbsp;11152 | &nbsp;&nbsp; 2217129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bio-Techne | &nbsp;&nbsp;&nbsp;&nbsp;115149 | &nbsp;&nbsp; 6405739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edwards Lifesciences † | &nbsp;&nbsp;&nbsp;&nbsp;72405 | &nbsp;&nbsp; 5630937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IDEXX Laboratories † | &nbsp;&nbsp;&nbsp;&nbsp;23681 | &nbsp;&nbsp; 15129554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insulet † | &nbsp;&nbsp;&nbsp;&nbsp;30381 | &nbsp;&nbsp; 9379526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ionis Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;77439 | &nbsp;&nbsp; 5066059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Veeva Systems Class A † | &nbsp;&nbsp;&nbsp;&nbsp;21109 | &nbsp;&nbsp; 6288582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waystar Holding † | &nbsp;&nbsp;&nbsp;&nbsp;116429 | &nbsp;&nbsp; 4414988 |
|  |  | &nbsp;&nbsp; 69398719 |
| &nbsp;&nbsp;Industrials — 22.40% | &nbsp;&nbsp;Industrials — 22.40% | &nbsp;&nbsp;Industrials — 22.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BWX Technologies | &nbsp;&nbsp;&nbsp;&nbsp;31756 | &nbsp;&nbsp; 5854854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Copart † | &nbsp;&nbsp;&nbsp;&nbsp;90917 | &nbsp;&nbsp; 4088537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EMCOR Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6977 | &nbsp;&nbsp; 4531841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fastenal | &nbsp;&nbsp;&nbsp;&nbsp;213703 | &nbsp;&nbsp; 10479995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generac Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;40733 | &nbsp;&nbsp; 6818704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HEICO Class A | &nbsp;&nbsp;&nbsp;&nbsp;29264 | &nbsp;&nbsp; 7435690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howmet Aerospace | &nbsp;&nbsp;&nbsp;&nbsp;42683 | &nbsp;&nbsp; 8375685 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** |
| &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kratos Defense & Security Solutions † | &nbsp;&nbsp;&nbsp;&nbsp;47334 | $4324908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lincoln Electric Holdings | &nbsp;&nbsp;&nbsp;&nbsp;31184 | &nbsp;&nbsp; 7354123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paylocity Holding † | &nbsp;&nbsp;&nbsp;&nbsp;29419 | &nbsp;&nbsp; 4685564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quanta Services | &nbsp;&nbsp;&nbsp;&nbsp;13706 | &nbsp;&nbsp; 5680040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rollins | &nbsp;&nbsp;&nbsp;&nbsp;105303 | &nbsp;&nbsp; 6185498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SPX Technologies † | &nbsp;&nbsp;&nbsp;&nbsp;32805 | &nbsp;&nbsp; 6127318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trex † | &nbsp;&nbsp;&nbsp;&nbsp;98693 | &nbsp;&nbsp; 5099467 |
|  |  | &nbsp;&nbsp; 87042224 |
| &nbsp;&nbsp;Information Technology — 23.19% | &nbsp;&nbsp;Information Technology — 23.19% | &nbsp;&nbsp;Information Technology — 23.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AppLovin Class A † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6492 | &nbsp;&nbsp; 4664762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bentley Systems Class B | &nbsp;&nbsp;&nbsp;&nbsp;79470 | &nbsp;&nbsp; 4091116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDW | &nbsp;&nbsp;&nbsp;&nbsp;27079 | &nbsp;&nbsp; 4313143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clearwater Analytics Holdings Class A † | &nbsp;&nbsp;&nbsp;&nbsp;186978 | &nbsp;&nbsp; 3369343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cloudflare Class A † | &nbsp;&nbsp;&nbsp;&nbsp;53846 | &nbsp;&nbsp; 11554813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coherent † | &nbsp;&nbsp;&nbsp;&nbsp;52493 | &nbsp;&nbsp; 5654546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Datadog Class A † | &nbsp;&nbsp;&nbsp;&nbsp;66515 | &nbsp;&nbsp; 9471736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HubSpot † | &nbsp;&nbsp;&nbsp;&nbsp;10747 | &nbsp;&nbsp; 5027447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Itron † | &nbsp;&nbsp;&nbsp;&nbsp;35529 | &nbsp;&nbsp; 4425492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;38040 | &nbsp;&nbsp; 4735600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manhattan Associates † | &nbsp;&nbsp;&nbsp;&nbsp;24955 | &nbsp;&nbsp; 5115276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monolithic Power Systems | &nbsp;&nbsp;&nbsp;&nbsp;11054 | &nbsp;&nbsp; 10176754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novanta † | &nbsp;&nbsp;&nbsp;&nbsp;47391 | &nbsp;&nbsp; 4746209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snowflake Class A † | &nbsp;&nbsp;&nbsp;&nbsp;35708 | &nbsp;&nbsp; 8053939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tyler Technologies † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8993 | &nbsp;&nbsp; 4704778 |
|  |  | &nbsp;&nbsp; 90104954 |
| &nbsp;&nbsp;Materials — 1.96% | &nbsp;&nbsp;Materials — 1.96% | &nbsp;&nbsp;Materials — 1.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Martin Marietta Materials | &nbsp;&nbsp;&nbsp;&nbsp;12080 | &nbsp;&nbsp; 7613782 |
|  |  | &nbsp;&nbsp; 7613782 |
| &nbsp;&nbsp;Real Estate — 3.07% | &nbsp;&nbsp;Real Estate — 3.07% | &nbsp;&nbsp;Real Estate — 3.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CoStar Group † | &nbsp;&nbsp;&nbsp;&nbsp;141639 | &nbsp;&nbsp; 11950083 |
|  |  | &nbsp;&nbsp; 11950083 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $323,898,332)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $323,898,332)** | &nbsp;&nbsp;**383128154** |
| &nbsp;&nbsp;**Short-Term Investments — 1.52%** | &nbsp;&nbsp;**Short-Term Investments — 1.52%** | &nbsp;&nbsp;**Short-Term Investments — 1.52%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 1.52% | &nbsp;&nbsp;Money Market Mutual Funds — 1.52% | &nbsp;&nbsp;Money Market Mutual Funds — 1.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.03%) | 1480173 | &nbsp;&nbsp; 1480173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.04%) | 1480173 | &nbsp;&nbsp; 1480173 |

---

NQ- IV075 [0925] 1125 (4967872) 1

------

Macquarie VIP Mid Cap Growth Series

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** |
| &nbsp;&nbsp;Money Market Mutual Funds (continued) | &nbsp;&nbsp;Money Market Mutual Funds (continued) | &nbsp;&nbsp;Money Market Mutual Funds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.07%) | 1480173 | $1480173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.05%) | 1480172 | &nbsp;&nbsp; 1480172 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $5,920,691)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $5,920,691)** | &nbsp;&nbsp; **5920691** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—100.12%<br> (cost $329,819,023)** |  | &nbsp;&nbsp;**389048845** |
| &nbsp;&nbsp;&nbsp;**Liabilities Net of Receivables and Other Assets—(0.12%)** |  | &nbsp;&nbsp;&nbsp; **(462783)** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 48,523,649 Shares Outstanding—100.00%** |  | **$388586062** |

---

♣ 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 |

---

2 NQ- IV075 [0925] 1125 (4967872)

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

  - **Street Address 1:** 100 Independence

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

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

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

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

- **b. EDGAR series identifier (if any):** S000006228

- **c. LEI of Series:** IIQD3DS12VB1BFQ7KZ27

**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:** $389233480.72

**Total Liabilities:** $463565.08

**Net Assets:** $388769915.64

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017162 | 3.60%                | 1.24%                | -1.84%               |
| Class ID C000190647 | 3.62%                | 1.21%                | -1.90%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2447683.01              | $11719351.23                               |
| Month 2  | $-163740.41              | $4935338.90                                |
| Month 3  | $-3027254.93             | $-4248666.73                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Brown & Brown Inc                              | Brown & Brown Inc                              | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |     53919 | NS      | $5057063.01   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc                   | Monolithic Power Systems Inc                   | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |     11054 | NS      | $10176754.56  | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                               | CoStar Group Inc                               | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |    141639 | NS      | $11950082.43  | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Hol                 | MACOM Technology Solutions Holdings Inc        | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38040 | NS      | $4735599.60   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| HubSpot Inc                                    | HubSpot Inc                                    | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |     10747 | NS      | $5027446.60   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc                              | Expedia Group Inc                              | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34349 | NS      | $7342098.75   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc                    | Alnylam Pharmaceuticals Inc                    | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |     24046 | NS      | $10964976.00  | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc                     | Floor & Decor Holdings Inc                     | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |     96613 | NS      | $7120378.10   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Tractor Supply Co                              | Tractor Supply Co                              | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |    122854 | NS      | $6986706.98   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| SharkNinja Inc                                 | SharkNinja Inc                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     57645 | NS      | $5946081.75   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc                     | LPL Financial Holdings Inc                     | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |     21865 | NS      | $7274266.85   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc                       | Manhattan Associates Inc                       | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |     24955 | NS      | $5115275.90   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                                  | Pinterest Inc                                  | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    145355 | NS      | $4676070.35   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings Inc                  | Lincoln Electric Holdings Inc                  | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |     31184 | NS      | $7354122.72   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co                                    | Fastenal Co                                    | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |    213703 | NS      | $10479995.12  | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron Inc                                      | Itron Inc                                      | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |     35529 | NS      | $4425492.24   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                                    | Datadog Inc                                    | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |     66515 | NS      | $9471736.00   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Stubhub Holdings Inc                           | Stubhub Holdings Inc                           | CUSIP: 86384P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    204614 | NS      | $3445699.76   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc                         | Tyler Technologies Inc                         | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      8993 | NS      | $4704777.88   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                         | Boot Barn Holdings Inc                         | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     32483 | NS      | $5383082.76   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |   1480173 | NS      | $1480172.74   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                                | Bio-Techne Corp                                | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |    115149 | NS      | $6405738.87   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc                             | Planet Fitness Inc                             | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     23088 | NS      | $2396534.40   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                                  | On Holding AG                                  | CUSIP: 000000000<br>LEI: 506700FB3467B9W95526 | Long             | EC               | CORP              | CH        |    125014 | NS      | $5294342.90   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                                | EMCOR Group Inc                                | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      6977 | NS      | $4531840.58   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF Government Portfolio                     | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |   1480173 | NS      | $1480172.71   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc                         | IDEXX Laboratories Inc                         | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |     23681 | NS      | $15129554.09  | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                            | Ascendis Pharma A/S                            | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |     11152 | NS      | $2217129.12   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund                    | BlackRock Liquidity FedFund                    | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |   1480173 | NS      | $1480172.74   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Toast Inc                                      | Toast Inc                                      | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |    119638 | NS      | $4367983.38   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                                  | Snowflake Inc                                  | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |     35708 | NS      | $8053939.40   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                                     | Copart Inc                                     | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     90917 | NS      | $4088537.49   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                                 | Dutch Bros Inc                                 | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     65104 | NS      | $3407543.36   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Corpay Inc                                     | Corpay Inc                                     | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     18347 | NS      | $5285036.82   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Waystar Holding Corp                           | Waystar Holding Corp                           | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    116429 | NS      | $4414987.68   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp                                     | HEICO Corp                                     | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |     29264 | NS      | $7435689.76   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare Inc                                 | Cloudflare Inc                                 | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |     53846 | NS      | $11554813.14  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Analytics Holdings                  | Clearwater Analytics Holdings Inc              | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    186978 | NS      | $3369343.56   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                      | Kinsale Capital Group Inc                      | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |     11125 | NS      | $4731017.50   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio                  | Fidelity Government Portfolio                  | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   1480173 | NS      | $1480172.74   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems Inc                            | Bentley Systems Inc                            | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |     79470 | NS      | $4091115.60   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solu                 | Kratos Defense & Security Solutions Inc        | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |     47334 | NS      | $4324907.58   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services Inc                            | Quanta Services Inc                            | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |     13706 | NS      | $5680040.52   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                                    | Rollins Inc                                    | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |    105303 | NS      | $6185498.22   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                                  | Coherent Corp                                  | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     52493 | NS      | $5654545.96   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores Inc                     | Casey's General Stores Inc                     | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      9402 | NS      | $5315138.64   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                                    | Novanta Inc                                    | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47391 | NS      | $4746208.65   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Ionis Pharmaceuticals Inc                      | Ionis Pharmaceuticals Inc                      | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |     77439 | NS      | $5066059.38   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp                      | Edwards Lifesciences Corp                      | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |     72405 | NS      | $5630936.85   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc                           | Generac Holdings Inc                           | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |     40733 | NS      | $6818704.20   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc                           | Align Technology Inc                           | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |     31155 | NS      | $3901229.10   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                                    | Trex Co Inc                                    | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98693 | NS      | $5099467.31   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Tapestry Inc                                   | Tapestry Inc                                   | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     56609 | NS      | $6409270.98   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc                  | Martin Marietta Materials Inc                  | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |     12080 | NS      | $7613782.40   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc                             | Houlihan Lokey Inc                             | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |      9963 | NS      | $2045603.16   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp                         | Paylocity Holding Corp                         | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |     29419 | NS      | $4685564.13   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies Inc                           | SPX Technologies Inc                           | CUSIP: 78473E103<br>LEI: P761FCI0CPOG24I8JE10 | Long             | EC               | CORP              | US        |     32805 | NS      | $6127317.90   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc                           | BWX Technologies Inc                           | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |     31756 | NS      | $5854853.72   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                                    | CDW Corp/DE                                    | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |     27079 | NS      | $4313143.12   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                           | Howmet Aerospace Inc                           | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     42771 | NS      | $8392953.33   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corp                                   | Insulet Corp                                   | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |     30381 | NS      | $9379526.13   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Amer Sports Inc                                | Amer Sports Inc                                | CUSIP: 000000000<br>LEI: 391200YCSWTRD1J21867 | Long             | EC               | CORP              | FI        |     83469 | NS      | $2900547.75   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Cruises Ltd                    | Royal Caribbean Cruises Ltd                    | CUSIP: 000000000<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | US        |     43849 | NS      | $14188659.42  | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                                  | AppLovin Corp                                  | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      6684 | NS      | $4802721.36   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                                      | Pool Corp                                      | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |     23683 | NS      | $7343387.81   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                              | Veeva Systems Inc                              | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |     21109 | NS      | $6288582.19   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

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