# EDGAR Filing Document

**Accession Number:** 0000810016
**File Stem:** 0000940400-25-010032
**Filing Date:** 2025-11
**Character Count:** 27888
**Document Hash:** 2b6da256d42cb6750a903376d875c99a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-010032.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-010032

**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:** 251513971

**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 Science and Technology Series (Series ID: S000006232)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017166 | Service      |  |
| C000190648 | Standard     |  |

## Nport-Ex

## Schedule of investments
Macquarie VIP Science and Technology Series

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 98.11%♣** | &nbsp;&nbsp;**Common Stocks — 98.11%♣** | &nbsp;&nbsp;**Common Stocks — 98.11%♣** |
| &nbsp;&nbsp;Communication Services — 14.93% | &nbsp;&nbsp;Communication Services — 14.93% | &nbsp;&nbsp;Communication Services — 14.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet Class A | &nbsp;&nbsp;&nbsp;&nbsp;95758 | $23278770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms Class A | &nbsp;&nbsp;&nbsp;&nbsp;61812 | &nbsp;&nbsp; 45393497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netflix † | &nbsp;&nbsp;&nbsp;&nbsp;11583 | &nbsp;&nbsp; 13887090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spotify Technology † | &nbsp;&nbsp;&nbsp;&nbsp;11572 | &nbsp;&nbsp; 8077256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Take-Two Interactive Software † | &nbsp;&nbsp;&nbsp;&nbsp;62881 | &nbsp;&nbsp; 16245935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ZoomInfo Technologies † | &nbsp;&nbsp;&nbsp;&nbsp;852009 | &nbsp;&nbsp; 9295418 |
|  |  | &nbsp;&nbsp;116177966 |
| &nbsp;&nbsp;Consumer Discretionary — 10.50% | &nbsp;&nbsp;Consumer Discretionary — 10.50% | &nbsp;&nbsp;Consumer Discretionary — 10.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com † | &nbsp;&nbsp;&nbsp;&nbsp;125371 | &nbsp;&nbsp; 27527711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DoorDash Class A † | &nbsp;&nbsp;&nbsp;&nbsp;51919 | &nbsp;&nbsp; 14121449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DraftKings Class A † | &nbsp;&nbsp;&nbsp;&nbsp;270184 | &nbsp;&nbsp; 10104882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MercadoLibre † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6394 | &nbsp;&nbsp; 14942394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SharkNinja † | &nbsp;&nbsp;&nbsp;&nbsp;145583 | &nbsp;&nbsp; 15016886 |
|  |  | &nbsp;&nbsp; 81713322 |
| &nbsp;&nbsp;Financials — 1.28% | &nbsp;&nbsp;Financials — 1.28% | &nbsp;&nbsp;Financials — 1.28% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coinbase Global Class A † | &nbsp;&nbsp;&nbsp;&nbsp;29510 | &nbsp;&nbsp; 9959330 |
|  |  | &nbsp;&nbsp; 9959330 |
| &nbsp;&nbsp;Healthcare — 3.68% | &nbsp;&nbsp;Healthcare — 3.68% | &nbsp;&nbsp;Healthcare — 3.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alnylam Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;21653 | &nbsp;&nbsp; 9873768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boston Scientific † | &nbsp;&nbsp;&nbsp;&nbsp;113445 | &nbsp;&nbsp; 11075635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuitive Surgical † | &nbsp;&nbsp;&nbsp;&nbsp;17203 | &nbsp;&nbsp; 7693698 |
|  |  | &nbsp;&nbsp; 28643101 |
| &nbsp;&nbsp;Industrials — 3.92% | &nbsp;&nbsp;Industrials — 3.92% | &nbsp;&nbsp;Industrials — 3.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howmet Aerospace | &nbsp;&nbsp;&nbsp;&nbsp;75723 | &nbsp;&nbsp; 14859124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uber Technologies † | &nbsp;&nbsp;&nbsp;&nbsp;159591 | &nbsp;&nbsp; 15635130 |
|  |  | &nbsp;&nbsp; 30494254 |
| &nbsp;&nbsp;Information Technology — 63.43% | &nbsp;&nbsp;Information Technology — 63.43% | &nbsp;&nbsp;Information Technology — 63.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advanced Micro Devices † | &nbsp;&nbsp;&nbsp;&nbsp;130729 | &nbsp;&nbsp; 21150645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amphenol Class A | &nbsp;&nbsp;&nbsp;&nbsp;35417 | &nbsp;&nbsp; 4382854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arista Networks † | &nbsp;&nbsp;&nbsp;&nbsp;138258 | &nbsp;&nbsp; 20145573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASML Holding | &nbsp;&nbsp;&nbsp;&nbsp;19095 | &nbsp;&nbsp; 18485679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom | &nbsp;&nbsp;&nbsp;&nbsp;127618 | &nbsp;&nbsp; 42102454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cadence Design Systems † | &nbsp;&nbsp;&nbsp;&nbsp;45439 | &nbsp;&nbsp; 15960903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDW | &nbsp;&nbsp;&nbsp;&nbsp;109969 | &nbsp;&nbsp; 17515862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Datadog Class A † | &nbsp;&nbsp;&nbsp;&nbsp;51962 | &nbsp;&nbsp; 7399389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuit | &nbsp;&nbsp;&nbsp;&nbsp;10466 | &nbsp;&nbsp; 7147336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lam Research | &nbsp;&nbsp;&nbsp;&nbsp;199990 | &nbsp;&nbsp; 26778661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Micron Technology | &nbsp;&nbsp;&nbsp;&nbsp;136375 | &nbsp;&nbsp; 22818265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft | &nbsp;&nbsp;&nbsp;&nbsp;79247 | &nbsp;&nbsp; 41045984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monday.com † | &nbsp;&nbsp;&nbsp;&nbsp;27995 | &nbsp;&nbsp; 5422352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | &nbsp;&nbsp;&nbsp;&nbsp;352443 | &nbsp;&nbsp; 65758815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SAP ADR | &nbsp;&nbsp;&nbsp;&nbsp;70990 | &nbsp;&nbsp; 18969238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seagate Technology Holdings | &nbsp;&nbsp;&nbsp;&nbsp;246106 | &nbsp;&nbsp; 58095782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shopify Class A † | &nbsp;&nbsp;&nbsp;&nbsp;105936 | &nbsp;&nbsp; 15743149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snowflake Class A † | &nbsp;&nbsp;&nbsp;&nbsp;38922 | &nbsp;&nbsp; 8778857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing ADR | &nbsp;&nbsp;&nbsp;&nbsp;154053 | &nbsp;&nbsp; 43025462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unity Software † | &nbsp;&nbsp;&nbsp;&nbsp;376988 | &nbsp;&nbsp; 15094599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Digital | &nbsp;&nbsp;&nbsp;&nbsp;44567 | &nbsp;&nbsp; 5350714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zebra Technologies Class A † | &nbsp;&nbsp;&nbsp;&nbsp;42054 | &nbsp;&nbsp; 12496767 |
|  |  | &nbsp;&nbsp;493669340 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** |
| &nbsp;&nbsp;Materials — 0.37% | &nbsp;&nbsp;Materials — 0.37% | &nbsp;&nbsp;Materials — 0.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sensient Technologies | &nbsp;&nbsp;&nbsp;&nbsp;30838 | $2894146 |
|  |  | &nbsp;&nbsp; 2894146 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $449,413,850)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $449,413,850)** | &nbsp;&nbsp;**763551459** |
| &nbsp;&nbsp;**Short-Term Investments — 1.63%** | &nbsp;&nbsp;**Short-Term Investments — 1.63%** | &nbsp;&nbsp;**Short-Term Investments — 1.63%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 1.63% | &nbsp;&nbsp;Money Market Mutual Funds — 1.63% | &nbsp;&nbsp;Money Market Mutual Funds — 1.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.03%) | 3174474 | &nbsp;&nbsp; 3174474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.04%) | 3174473 | &nbsp;&nbsp; 3174473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.07%) | 3174473 | &nbsp;&nbsp; 3174473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.05%) | 3174472 | &nbsp;&nbsp; 3174472 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $12,697,892)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $12,697,892)** | &nbsp;&nbsp; **12697892** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.74%<br> (cost $462,111,742)** |  | &nbsp;&nbsp;**776249351** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities—0.26%** |  | &nbsp;&nbsp; **2037072** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 24,453,112 Shares Outstanding—100.00%** |  | **$778286423** |

---

♣ 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 |

---

NQ- IV089 [0925] 1125 (4967888) 1

------

Macquarie VIP Science and Technology Series

September 30, 2025 (Unaudited)

NQ- IV089 [0925] 1125 (4967888) 2

## 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 Science and Technology Series

- **b. EDGAR series identifier (if any):** S000006232

- **c. LEI of Series:** RNYLYVW3SXLUIGIWEY29

**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:** $779951925.90

**Total Liabilities:** $848849.93

**Net Assets:** $779103075.97

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017166 | 3.69%                | 0.20%                | 7.61%                |
| Class ID C000190648 | 3.73%                | 0.23%                | 7.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $17897303.93             | $9068373.21                                |
| Month 2  | $405453.14               | $1583564.98                                |
| Month 3  | $3127474.67              | $52620846.23                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ZoomInfo Technologies Inc                      | ZoomInfo Technologies Inc                      | CUSIP: 98980F104<br>LEI: 2549008GSAHW4UWFEM58 | Long             | EC               | CORP              | US        |    852009 | NS      | $9295418.19   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp                     | Sensient Technologies Corp                     | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |     30838 | NS      | $2894146.30   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                                    | CDW Corp/DE                                    | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |    109969 | NS      | $17515862.32  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                                    | Netflix Inc                                    | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     11583 | NS      | $13887090.36  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                | ASML Holding NV                                | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     19095 | NS      | $18485678.55  | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                                           | Taiwan Semiconductor Manufacturing Co Ltd      | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    154053 | NS      | $43025462.37  | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc                     | Advanced Micro Devices Inc                     | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    130729 | NS      | $21150644.91  | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp                           | Western Digital Corp                           | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |     44567 | NS      | $5350714.02   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund                    | BlackRock Liquidity FedFund                    | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |   3174473 | NS      | $3174473.48   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                          | Uber Technologies Inc                          | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    159591 | NS      | $15635130.27  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                                  | Snowflake Inc                                  | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |     38922 | NS      | $8778857.10   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PL                 | Seagate Technology Holdings PLC                | CUSIP: 000000000<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | US        |    246106 | NS      | $58095782.36  | 7.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software                  | Take-Two Interactive Software Inc              | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |     62881 | NS      | $16245935.16  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc                                 | DraftKings Inc                                 | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |    270184 | NS      | $10104881.60  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                                    | Shopify Inc                                    | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |    105936 | NS      | $15743148.96  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                              | Lam Research Corp                              | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |    199990 | NS      | $26778661.00  | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc                          | Micron Technology Inc                          | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |    136375 | NS      | $22818265.00  | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| SharkNinja Inc                                 | SharkNinja Inc                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    145583 | NS      | $15016886.45  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc                            | Coinbase Global Inc                            | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |     29510 | NS      | $9959329.90   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Monday.com Ltd                                 | Monday.com Ltd                                 | CUSIP: 000000000<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |     27995 | NS      | $5422351.55   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                         | SAP SE                                         | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     70990 | NS      | $18969237.90  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Unity Software Inc                             | Unity Software Inc                             | CUSIP: 91332U101<br>LEI: 549300D1ESJMGNQNG432 | Long             | EC               | CORP              | US        |    376988 | NS      | $15094599.52  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                               | MercadoLibre Inc                               | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |      6394 | NS      | $14942394.36  | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio                  | Fidelity Government Portfolio                  | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   3174473 | NS      | $3174473.48   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                    | NVIDIA Corp                                    | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    352443 | NS      | $65758814.94  | 8.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                            | Arista Networks Inc                            | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |    138258 | NS      | $20145573.18  | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc                     | Cadence Design Systems Inc                     | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     45439 | NS      | $15960903.14  | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                                   | DoorDash Inc                                   | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |     51919 | NS      | $14121448.81  | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                 | Amazon.com Inc                                 | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    125371 | NS      | $27527710.47  | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                                  | Amphenol Corp                                  | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     35417 | NS      | $4382853.75   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                                    | Datadog Inc                                    | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |     51962 | NS      | $7399388.80   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                     | Intuit Inc                                     | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     10466 | NS      | $7147336.06   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                          | Spotify Technology SA                          | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |     11572 | NS      | $8077256.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                 | Microsoft Corp                                 | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     79247 | NS      | $41045983.65  | 5.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                             | Meta Platforms Inc                             | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     61812 | NS      | $45393496.56  | 5.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                   | Alphabet Inc                                   | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    108950 | NS      | $26485745.00  | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc                    | Alnylam Pharmaceuticals Inc                    | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |     21653 | NS      | $9873768.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                           | Howmet Aerospace Inc                           | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     75723 | NS      | $14859124.29  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp                         | Boston Scientific Corp                         | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    113445 | NS      | $11075635.35  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc                         | Intuitive Surgical Inc                         | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     17203 | NS      | $7693697.69   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Zebra Technologies Corp                        | Zebra Technologies Corp                        | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |     42054 | NS      | $12496766.64  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                   | Broadcom Inc                                   | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    127618 | NS      | $42102454.38  | 5.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF Government Portfolio                     | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |   3174472 | NS      | $3174471.65   | 0.41%             |  |  |  | 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        |   3174473 | NS      | $3174473.22   | 0.41%             |  |  |  | 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