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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DELAWARE IVY VIP INTERNATIONAL CORE EQUITY</name>
        <lei>N/A</lei>
        <title>DELAWARE IVY VIP INTERNATIONAL CORE EQUITY</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="46600H562"/>
        </identifiers>
        <balance>3887628.80000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>68849906.05000000</valUSD>
        <pctVal>19.14581167290</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MSILF Government Portfolio</name>
        <lei>549300BI6Y5SI6BYPB26</lei>
        <title>MSILF Government Portfolio</title>
        <cusip>61747C707</cusip>
        <identifiers>
          <isin value="US61747C7074"/>
          <ticker value="MVRXX"/>
        </identifiers>
        <balance>1406703.92000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1406703.92000000</valUSD>
        <pctVal>0.391176834900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Macquarie VIP Mid Cap Growth Series</name>
        <lei>N/A</lei>
        <title>Macquarie VIP Mid Cap Growth Series</title>
        <cusip>46600H596</cusip>
        <identifiers>
          <isin value="US46600H5963"/>
          <ticker value="0754237D"/>
        </identifiers>
        <balance>340231.68900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3157350.07000000</valUSD>
        <pctVal>0.877997273979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Macquarie VIP Small Cap Growth Series</name>
        <lei>N/A</lei>
        <title>Macquarie VIP Small Cap Growth Series</title>
        <cusip>46600H570</cusip>
        <identifiers>
          <isin value="US46600H5708"/>
          <ticker value="0754236D"/>
        </identifiers>
        <balance>522615.97100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3172278.94000000</valUSD>
        <pctVal>0.882148700610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>S&amp;P500 EMINI</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="ESM5"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01FTN83M4"/>
        </identifiers>
        <balance>-97.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>12892.27000000</valUSD>
        <pctVal>0.003585088021</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CHICAGO MERCANTILE EXCHANGE INC.</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>STANDARD &amp; POOR'S FINANCIAL SERVICES LLC</issuerName>
                <issueTitle>STANDARD &amp; POORS'S 500</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <ticker value="SPX"/>
                  <other otherDesc="INTERNAL" value="SPX_INDEX_US"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-06-20</expDate>
            <notionalAmt>-27431154.77000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>12892.27000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Delaware Ivy VIP Small Cap Core Class S</name>
        <lei>N/A</lei>
        <title>Delaware Ivy VIP Small Cap Core Class S</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="46600H778"/>
        </identifiers>
        <balance>1291923.99900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15813149.75000000</valUSD>
        <pctVal>4.397327526476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Macquarie VIP Growth Series</name>
        <lei>Z8006IQHVKEASPHFNK61</lei>
        <title>Macquarie VIP Growth Series</title>
        <cusip>46600H802</cusip>
        <identifiers>
          <isin value="US46600H8025"/>
          <ticker value="IVYGROW"/>
        </identifiers>
        <balance>3896081.78000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38766013.71000000</valUSD>
        <pctVal>10.78006987056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Macquarie VIP Corporate Bond Series</name>
        <lei>80M6N2TK2SP4KMW7RP03</lei>
        <title>Macquarie VIP Corporate Bond Series</title>
        <cusip>46600H307</cusip>
        <identifiers>
          <isin value="US46600H3075"/>
          <ticker value="IVYBOND"/>
        </identifiers>
        <balance>18300235.76900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>86743117.55000000</valUSD>
        <pctVal>24.12156367108</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Macquarie VIP Core Equity Series</name>
        <lei>1O0KE92B2QJ305IPCS48</lei>
        <title>Macquarie VIP Core Equity Series</title>
        <cusip>46600H406</cusip>
        <identifiers>
          <isin value="US46600H4065"/>
          <ticker value="IVYCOEQ"/>
        </identifiers>
        <balance>4204796.47600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>58404623.05000000</valUSD>
        <pctVal>16.24118285550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Macquarie VIP Limited-Term Bond Series</name>
        <lei>549300IQNBLPUI8O5C25</lei>
        <title>Macquarie VIP Limited-Term Bond Series</title>
        <cusip>46600H687</cusip>
        <identifiers>
          <isin value="US46600H6870"/>
          <ticker value="IVYLTDB"/>
        </identifiers>
        <balance>7305684.39600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34775057.72000000</valUSD>
        <pctVal>9.670263101565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Macquarie VIP High Income Series</name>
        <lei>N/A</lei>
        <title>Macquarie VIP High Income Series</title>
        <cusip>46600H620</cusip>
        <identifiers>
          <isin value="US46600H6201"/>
          <ticker value="VAR0080"/>
        </identifiers>
        <balance>911831.07100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2680783.35000000</valUSD>
        <pctVal>0.745473394222</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BlackRock Liquidity FedFund</name>
        <lei>549300T8K043VZEOVK74</lei>
        <title>BlackRock Liquidity FedFund</title>
        <cusip>09248U700</cusip>
        <identifiers>
          <isin value="US09248U7000"/>
          <ticker value="TFDXX"/>
        </identifiers>
        <balance>1406703.93000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1406703.93000000</valUSD>
        <pctVal>0.391176837681</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-05-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Ivy Variable Insurance Portfolio</ncom:nameOfApplicant>
      <ncom:signature>Dan Geatens</ncom:signature>
      <ncom:signerName>Dan Geatens</ncom:signerName>
      <ncom:title>Division Director - Head of US Fund Administration</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
