NPORT-P false 0000810016 XXXXXXXX S000006234 C000017168 Ivy Variable Insurance Portfolios 811-05017 0000810016 72XHPUAYSOH6ROSGJT53 100 Independence 610 Market Street Philadelphia 19106 215-255-1200 Macquarie VIP Smid Cap Core Series S000006234 ZRJY0CYFDPH4SGPRYA91 2025-12-31 2025-03-31 N 191820519.01 251187.85 191569331.16 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N BorgWarner Inc 549300DSFX2IE88NSX47 099724106 35460.00000000 NS USD 1015929.00000000 0.530319228995 Long EC CORP US N 1 N N N Halozyme Therapeutics Inc 529900242I3SV9AGM753 40637H109 33108.00000000 NS USD 2112621.48000000 1.102797335673 Long EC CORP US N 1 N N N SouthState Corp 549300JZUANXM0YQ4W53 840441109 27339.00000000 NS USD 2537605.98000000 1.324641039687 Long EC CORP US N 1 N N N Guidewire Software Inc 549300WXSG0J8IXZCK32 40171V100 15036.00000000 NS USD 2817144.96000000 1.470561567940 Long EC CORP US N 1 N N N Huntsman Corp 5299000V56320A7RIQ67 447011107 101248.00000000 NS USD 1598705.92000000 0.834531242720 Long EC CORP US N 1 N N N Reliance Inc 549300E287ZOFT3C5Z56 759509102 9315.00000000 NS USD 2689706.25000000 1.404038023055 Long EC CORP US N 1 N N N Casey's General Stores Inc 549300CAFWSI86V66Q65 147528103 7496.00000000 NS USD 3253563.84000000 1.698374066610 Long EC CORP US N 1 N N N MSILF Government Portfolio 549300BI6Y5SI6BYPB26 61747C707 1189814.59000000 NS USD 1189814.59000000 0.621088241419 Long STIV RF US N 1 N N N Intra-Cellular Therapies Inc 5299002U2KGF193IJA20 46116X101 3905.00000000 NS USD 515147.60000000 0.268909223037 Long EC CORP US N 1 N N N Boise Cascade Co 549300Z8B8LSRHC7XA55 09739D100 16268.00000000 NS USD 1595728.12000000 0.832976818542 Long EC CORP US N 1 N N N Federal Signal Corp 549300RTXZRPTNP6G884 313855108 21473.00000000 NS USD 1579339.15000000 0.824421706980 Long EC CORP US N 1 N N N Saia Inc 549300WNPG4N9GBOYB29 78709Y105 792.00000000 NS USD 276748.56000000 0.144463917227 Long EC CORP US N 1 N N N Lincoln Electric Holdings Inc BIMGBY40SIN95O01BN93 533900106 11427.00000000 NS USD 2161531.32000000 1.128328478734 Long EC CORP US N 1 N N N Stifel Financial Corp 549300E5F07FE5GHJX84 860630102 22898.00000000 NS USD 2158365.48000000 1.126675896883 Long EC CORP US N 1 N N N First Industrial Realty Trust N/A 32054K103 39980.00000000 NS USD 2157320.80000000 1.126130569510 Long EC CORP US N 1 N N N IMAX Corp 5493002KS2T1Q0X7VZ21 45245E109 57113.00000000 NS USD 1504927.55000000 0.785578537486 Long EC CORP CA N 1 N N N BlackRock Liquidity FedFund 549300T8K043VZEOVK74 09248U700 1189811.54000000 NS USD 1189811.54000000 0.621086649306 Long STIV RF US N 1 N N N UL Solutions Inc 549300F7CUV5ESKV9P71 903731107 14532.00000000 NS USD 819604.80000000 0.427837167378 Long EC CORP US N 1 N N N Hamilton Lane Inc 5493006OKN3V1NORM833 407497106 5375.00000000 NS USD 799101.25000000 0.417134227676 Long EC CORP US N 1 N N N Graco Inc 4T5VJ4S81BRT6Q7GGT78 384109104 17954.00000000 NS USD 1499338.54000000 0.782661050660 Long EC CORP US N 1 N N N Semtech Corp 549300J7WUY317SW6O61 816850101 58704.00000000 NS USD 2019417.60000000 1.054144516646 Long EC CORP US N 1 N N N Werner Enterprises Inc 549300P6XRGOCHHJST37 950755108 28015.00000000 NS USD 820839.50000000 0.428481685993 Long EC CORP US N 1 N N N Kirby Corp I7NO6FZO5GUCG585T325 497266106 21906.00000000 NS USD 2212725.06000000 1.155051827242 Long EC CORP US N 1 N N N Aramark 549300MR6PG2DWZUIL39 03852U106 43276.00000000 NS USD 1493887.52000000 0.779815595196 Long EC CORP US N 1 N N N Minerals Technologies Inc 549300D3I1QU67GP6403 603158106 31382.00000000 NS USD 1994953.74000000 1.041374278398 Long EC CORP US N 1 N N N Brinker International Inc 52990067JY6PBGJNTG76 109641100 10563.00000000 NS USD 1574415.15000000 0.821851358182 Long EC CORP US N 1 N N N PTC Inc 54930050SSMU8SKDJ030 69370C100 5657.00000000 NS USD 876552.15000000 0.457563924607 Long EC CORP US N 1 N N N OmniAb, Inc. N/A 68218J202 3815.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N Webster Financial Corp KMRURHT0VWKYS6Z5KU67 947890109 59908.00000000 NS USD 3088257.40000000 1.612083406722 Long EC CORP US N 1 N N N Beacon Roofing Supply Inc 549300HDXQWWCBOYXP31 073685109 23823.00000000 NS USD 2946905.10000000 1.538296909090 Long EC CORP US N 1 N N N FTAI Aviation Ltd N/A 000000000 3721.00000000 NS USD 413142.63000000 0.215662197857 Long EC CORP US N 1 N N N Neurocrine Biosciences Inc 549300FECER0XBN49756 64125C109 15416.00000000 NS USD 1705009.60000000 0.890022212676 Long EC CORP US N 1 N N N Carlisle Cos Inc XR64VGX1ZPX6G7ZN7Z11 142339100 6304.00000000 NS USD 2146512.00000000 1.120488330257 Long EC CORP US N 1 N N N Texas Roadhouse Inc 5299002Y1CNRPDGXTQ75 882681109 14198.00000000 NS USD 2365812.74000000 1.234964242801 Long EC CORP US N 1 N N N Jones Lang LaSalle Inc 6SYKCME112RT8TQUO411 48020Q107 6060.00000000 NS USD 1502334.60000000 0.784225006634 Long EC CORP US N 1 N N N La-Z-Boy Inc 549300WNO1WMN9ZG2519 505336107 24526.00000000 NS USD 958721.34000000 0.500456588846 Long EC CORP US N 1 N N N BJ's Wholesale Club Holdings I 549300UCIWH1C93V0J03 05550J101 24436.00000000 NS USD 2788147.60000000 1.455424823544 Long EC CORP US N 1 N N N Healthpeak Properties Inc 254900M6MTMZM0I22L81 42250P103 86287.00000000 NS USD 1744723.14000000 0.910752848295 Long EC CORP US N 1 N N N Taylor Morrison Home Corp 5299009UDLLGLKOOJE30 87724P106 14216.00000000 NS USD 853528.64000000 0.445545555142 Long EC CORP US N 1 N N N Clean Harbors Inc 5493000SJVZVZJKHJF48 184496107 8382.00000000 NS USD 1652092.20000000 0.862399106368 Long EC CORP US N 1 N N N Axis Capital Holdings Ltd 635400VD2NQBYAHMEM55 000000000 34212.00000000 NS USD 3429410.88000000 1.790166964218 Long EC CORP BM N 1 N N N ABM Industries Inc QF02R89VEIOROM77J447 000957100 28818.00000000 NS USD 1364820.48000000 0.712442055174 Long EC CORP US N 1 N N N Tetra Tech Inc 549300UJ1LP7JGJC5P32 88162G103 44456.00000000 NS USD 1300338.00000000 0.678781928258 Long EC CORP US N 1 N N N Spire Inc 549300NXSY15DRY2R511 84857L101 26648.00000000 NS USD 2085206.00000000 1.088486339318 Long EC CORP US N 1 N N N SPS Commerce Inc 2549006XVF9GCCETDQ72 78463M107 6723.00000000 NS USD 892343.79000000 0.465807227386 Long EC CORP US N 1 N N N Quanta Services Inc SHVRXXEACT60MMH07S24 74762E102 4222.00000000 NS USD 1073147.96000000 0.560187767792 Long EC CORP US N 1 N N N Kemper Corp 549300FNI1JKTRY2PV09 488401100 41310.00000000 NS USD 2761573.50000000 1.441553031102 Long EC CORP US N 1 N N N ExlService Holdings Inc 81E3DTNF6OSH489ZOV15 302081104 62863.00000000 NS USD 2967762.23000000 1.549184419045 Long EC CORP US N 1 N N N Arcosa Inc 549300WFHLTCZV7D6V29 039653100 14412.00000000 NS USD 1111453.44000000 0.580183390143 Long EC CORP US N 1 N N N Varonis Systems Inc 549300SHIVNRRH7STS26 922280102 41561.00000000 NS USD 1681142.45000000 0.877563459568 Long EC CORP US N 1 N N N Workiva Inc 529900RTOQ8GRWHY1O58 98139A105 10948.00000000 NS USD 831062.68000000 0.433818229132 Long EC CORP US N 1 N N N API Group Corp 213800NZT1VX6PZ7BT53 00187Y100 20269.00000000 NS USD 724819.44000000 0.378358809111 Long EC CORP US N 1 N N N Silicon Laboratories Inc 4PRDF8Q9TDHRVZKZSZ47 826919102 11161.00000000 NS USD 1256393.77000000 0.655842854590 Long EC CORP US N 1 N N N Apellis Pharmaceuticals Inc 254900HS0ZFRXXSB9D42 03753U106 32733.00000000 NS USD 715870.71000000 0.373687534254 Long EC CORP US N 1 N N N J & J Snack Foods Corp 894500IGP1Y2ZQFQMJ83 466032109 9575.00000000 NS USD 1261219.00000000 0.658361645031 Long EC CORP US N 1 N N N ASGN Inc LZBNYYCBUKY537072438 00191U102 17448.00000000 NS USD 1099572.96000000 0.573981729404 Long EC CORP US N 1 N N N OmniAb, Inc. N/A 68218J301 3815.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N Old National Bancorp/IN 549300MMK90CL5KMVX16 680033107 108412.00000000 NS USD 2297250.28000000 1.199174349093 Long EC CORP US N 1 N N N International Seaways Inc 549300YUFDGFRNGBWF46 000000000 12385.00000000 NS USD 411182.00000000 0.214638740716 Long EC CORP US N 1 N N N Wendy's Co/The 529900M0JIUCMWVKHG76 95058W100 54779.00000000 NS USD 801416.77000000 0.418342938896 Long EC CORP US N 1 N N N Inspire Medical Systems Inc 549300XQQCQ7HCJKTW25 457730109 6809.00000000 NS USD 1084537.52000000 0.566133166218 Long EC CORP US N 1 N N N Azenta Inc 35ZN6X1ANPH25YN32Y17 114340102 17740.00000000 NS USD 614513.60000000 0.320778694731 Long EC CORP US N 1 N N N WESCO International Inc 529900TXOGREY3WNJ434 95082P105 13328.00000000 NS USD 2069838.40000000 1.080464387209 Long EC CORP US N 1 N N N Essent Group Ltd 254900QUO860OUT6ZF83 000000000 27261.00000000 NS USD 1573504.92000000 0.821376214278 Long EC CORP US N 1 N N N Repligen Corp 54930006QJ0T5AUO1E71 759916109 8672.00000000 NS USD 1103425.28000000 0.575992656715 Long EC CORP US N 1 N N N Box Inc 549300KQUCPD8687YS68 10316T104 30133.00000000 NS USD 929904.38000000 0.485414014012 Long EC CORP US N 1 N N N Pinnacle Financial Partners In 54930098EZ8JMSAZGS24 72346Q104 25558.00000000 NS USD 2710170.32000000 1.414720354030 Long EC CORP US N 1 N N N Knight-Swift Transportation Ho N/A 499049104 31233.00000000 NS USD 1358323.17000000 0.709050431911 Long EC CORP US N 1 N N N East West Bancorp Inc N/A 27579R104 40844.00000000 NS USD 3666157.44000000 1.913749668488 Long EC CORP US N 1 N N N Exact Sciences Corp 549300VM3X1FYD4N9Z14 30063P105 25690.00000000 NS USD 1112120.10000000 0.580531389479 Long EC CORP US N 1 N N N Blueprint Medicines Corp 5299004CC60O9T5HVM83 09627Y109 19657.00000000 NS USD 1739841.07000000 0.908204387134 Long EC CORP US N 1 N N N YETI Holdings Inc 549300DSQICIGNT5GO63 98585X104 40018.00000000 NS USD 1324595.80000000 0.691444602316 Long EC CORP US N 1 N N N Terreno Realty Corp N/A 88146M101 20758.00000000 NS USD 1312320.76000000 0.685036979590 Long EC CORP US N 1 N N N Kadant Inc 549300K06LNJYBMPYP15 48282T104 4181.00000000 NS USD 1408620.71000000 0.735305960234 Long EC CORP US N 1 N N N Columbia Banking System Inc N/A 197236102 96062.00000000 NS USD 2395786.28000000 1.250610557281 Long EC CORP US N 1 N N N Zurn Elkay Water Solutions Cor 549300AM3633XDFU1Q85 98983L108 47339.00000000 NS USD 1561240.22000000 0.814973989075 Long EC CORP US N 1 N N N Toll Brothers Inc 529900JB6IS9MSZGVR44 889478103 14432.00000000 NS USD 1523874.88000000 0.795469123774 Long EC CORP US N 1 N N N WillScot Holdings Corp 549300HJ4VIXF476Q166 971378104 60571.00000000 NS USD 1683873.80000000 0.878989235804 Long EC CORP US N 1 N N N Expand Energy Corp X2MT1W32SPAZ9WSKLE78 165167735 39684.00000000 NS USD 4417622.88000000 2.306017802145 Long EC CORP US N 1 N N N Fidelity Government Portfolio 549300FQDFZGLUOCWN51 316175108 1189814.63000000 NS USD 1189814.63000000 0.621088262299 Long STIV RF US N 1 N N N Supernus Pharmaceuticals Inc 549300GRM36VBKISYJ58 868459108 33268.00000000 NS USD 1089527.00000000 0.568737695852 Long EC CORP US N 1 N N N Kite Realty Group Trust N/A 49803T300 76586.00000000 NS USD 1713228.82000000 0.894312680232 Long EC CORP US N 1 N N N Brixmor Property Group Inc 5299007UXW6Y0W2EGZ95 11120U105 74978.00000000 NS USD 1990665.90000000 1.039136007807 Long EC CORP US N 1 N N N Atkore Inc 52990002TI38AM4RPV48 047649108 4759.00000000 NS USD 285492.41000000 0.149028243858 Long EC CORP US N 1 N N N Amicus Therapeutics Inc 549300MRD1SMUTNBPQ53 03152W109 80280.00000000 NS USD 655084.80000000 0.341957032492 Long EC CORP US N 1 N N N Ligand Pharmaceuticals Inc 5493008K7TB0IKP37H79 53220K504 13835.00000000 NS USD 1454611.90000000 0.759313555667 Long EC CORP US N 1 N N N Rubrik Inc 254900TRGK2WTBYMYU27 781154109 9105.00000000 NS USD 555222.90000000 0.289828698903 Long EC CORP US N 1 N N N Kaiser Aluminum Corp N/A 483007704 14117.00000000 NS USD 855772.54000000 0.446716880420 Long EC CORP US N 1 N N N Q2 Holdings Inc 549300M9RKR9DZXWS696 74736L109 23464.00000000 NS USD 1877354.64000000 0.979987051493 Long EC CORP US N 1 N N N Interpublic Group of Cos Inc/T 5493008IUOJ5VWTRC333 460690100 49151.00000000 NS USD 1334941.16000000 0.696844923932 Long EC CORP US N 1 N N N Camden Property Trust 5493002MYX22OHYJBD89 133131102 19950.00000000 NS USD 2439885.00000000 1.273630275381 Long EC CORP US N 1 N N N Chart Industries Inc EM7QGKC1GYOF3LSZSL80 16115Q308 7387.00000000 NS USD 1066387.32000000 0.556658685157 Long EC CORP US N 1 N N N Insmed Inc 529900Q55QAG41CCAC11 457669307 30060.00000000 NS USD 2293277.40000000 1.197100488952 Long EC CORP US N 1 N N N Bio-Techne Corp 54930073RLKQ51TILZ35 09073M104 22102.00000000 NS USD 1295840.26000000 0.676434088981 Long EC CORP US N 1 N N N WSFS Financial Corp 549300SU7VQHD6QRG886 929328102 33742.00000000 NS USD 1750197.54000000 0.913610508217 Long EC CORP US N 1 N N N Dick's Sporting Goods Inc 529900SSBV5I4LWSK313 253393102 14561.00000000 NS USD 2934915.16000000 1.532038109768 Long EC CORP US N 1 N N N Rapid7 Inc 549300GNVG5D60KEYN14 753422104 19502.00000000 NS USD 516998.02000000 0.269875150092 Long EC CORP US N 1 N N N Ultragenyx Pharmaceutical Inc 529900EV44GVDN1DCX77 90400D108 17604.00000000 NS USD 637440.84000000 0.332746810849 Long EC CORP US N 1 N N N MACOM Technology Solutions Hol N/A 55405Y100 16546.00000000 NS USD 1660887.48000000 0.866990279677 Long EC CORP US N 1 N N N Natera Inc N/A 632307104 15079.00000000 NS USD 2132321.39000000 1.113080771900 Long EC CORP US N 1 N N N Liberty Energy Inc N/A 53115L104 154855.00000000 NS USD 2451354.65000000 1.279617481126 Long EC CORP US N 1 N N N KBR Inc 254900OFQDXZRKRCV808 48242W106 30565.00000000 NS USD 1522442.65000000 0.794721493665 Long EC CORP US N 1 N N N Axsome Therapeutics Inc 549300EXGR0XLRJEIB95 05464T104 9367.00000000 NS USD 1092473.21000000 0.570275629916 Long EC CORP US N 1 N N N Gates Industrial Corp PLC 549300S6K4FWUSB9KM27 000000000 39775.00000000 NS USD 732257.75000000 0.382241638348 Long EC CORP US N 1 N N N Permian Resources Corp 529900NXUJPOKU7OJ511 71424F105 186300.00000000 NS USD 2580255.00000000 1.346904008264 Long EC CORP US N 1 N N N WNS Holdings Ltd 529900RM7QHUD3W9DM42 000000000 29176.00000000 NS USD 1794032.24000000 0.936492406762 Long EC CORP IN N 1 N N N Procore Technologies Inc 5493005PTWY0RHYRAH22 74275K108 18933.00000000 NS USD 1249956.66000000 0.652482655982 Long EC CORP US N 1 N N N Casella Waste Systems Inc 8EU0XUFVJ48U37IIDH51 147448104 14846.00000000 NS USD 1655477.46000000 0.864166226386 Long EC CORP US N 1 N N N Regal Rexnord Corp QH78R09VCJGQKPBPYU33 758750103 9026.00000000 NS USD 1027610.10000000 0.536416812533 Long EC CORP US N 1 N N N Reinsurance Group of America I LORM1GNEU1DKEW527V90 759351604 13532.00000000 NS USD 2664450.80000000 1.390854571483 Long EC CORP US N 1 N N N Encompass Health Corp 549300FVRPM9DRQZRG64 29261A100 20048.00000000 NS USD 2030461.44000000 1.059909447772 Long EC CORP US N 1 N N N Dynatrace Inc 6488T0Z33CE9L61EX904 268150109 30479.00000000 NS USD 1437084.85000000 0.750164361538 Long EC CORP US N 1 N N N KB Home 549300LGUCWQURMWLG09 48666K109 12973.00000000 NS USD 753990.76000000 0.393586361362 Long EC CORP US N 1 N N N Nexstar Media Group Inc 52990083ZRR5UT591988 65336K103 5510.00000000 NS USD 987502.20000000 0.515480319329 Long EC CORP US N 1 N N N Malibu Boats Inc N/A 56117J100 19572.00000000 NS USD 600468.96000000 0.313447333330 Long EC CORP US N 1 N N N TransMedics Group Inc 549300060GVOSMWARH50 89377M109 11201.00000000 NS USD 753603.28000000 0.393384095166 Long EC CORP US N 1 N N N Lantheus Holdings Inc 5299005HUB5IOJGO7S39 516544103 15613.00000000 NS USD 1523828.80000000 0.795445069820 Long EC CORP US N 1 N N N Applied Industrial Technologie 549300NU173IJRC6PO38 03820C105 3853.00000000 NS USD 868235.02000000 0.453222347618 Long EC CORP US N 1 N N N Steven Madden Ltd 549300Z9GZ7GYJWSGF43 556269108 50829.00000000 NS USD 1354084.56000000 0.706837859588 Long EC CORP US N 1 N N N XPO Inc 54930096DB9LCLPN7H13 983793100 7100.00000000 NS USD 763818.00000000 0.398716222150 Long EC CORP US N 1 N N N Black Hills Corp 3MGELCRSTNSAMJ962671 092113109 28285.00000000 NS USD 1715485.25000000 0.895490546222 Long EC CORP US N 1 N N N Coherent Corp 549300O5C25A0MMHHU33 19247G107 29028.00000000 NS USD 1885078.32000000 0.984018845075 Long EC CORP US N 1 N N N Yelp Inc 5299007OU2DOSXPQBO35 985817105 27438.00000000 NS USD 1016029.14000000 0.530371502498 Long EC CORP US N 1 N N N Goldman Sachs Financial Square Government Fund 549300BRJMXN4GUWZ402 38141W273 1189813.51000000 NS USD 1189813.51000000 0.621087677654 Long STIV RF US N 1 N N N 2025-05-29 Ivy Variable Insurance Portfolio Dan Geatens Dan Geatens Division Director - Head of US Fund Administration XXXX