NPORT-P false 0000857490 XXXXXXXX S000004398 C000012154 VANGUARD VARIABLE INSURANCE FUNDS 811-05962 0000857490 549300N9FZ0B1IR95761 100 Vanguard Boulevard Malvern 19355 610-669-1000 DIVERSIFIED VALUE PORTFOLIO S000004398 147HBSXFO6HWZRQP8T25 2025-12-31 2025-03-31 N 1309806144.22 878440.48 1308927703.74 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 911351.80000000 N General Motors Co 54930070NSV60J38I987 37045V100 262383.00000000 NS USD 12339872.49000000 0.942746681481 Long EC CORP US N 1 N N N Waste Management Inc 549300YX8JIID70NFS41 94106L109 67463.00000000 NS USD 15618359.13000000 1.193217859578 Long EC CORP US N 1 N N N Thermo Fisher Scientific Inc HCHV7422L5HDJZCRFL38 883556102 24665.00000000 NS USD 12273304.00000000 0.937660954453 Long EC CORP US N 1 N N N State Street Corp 549300ZFEEJ2IP5VME73 857477103 105210.00000000 NS USD 9419451.30000000 0.719631135706 Long EC CORP US N 1 N N N GE HealthCare Technologies Inc 549300OI9J7XOWZMUN85 36266G107 116017.00000000 NS USD 9363732.07000000 0.715374274930 Long EC CORP US N 1 N N N Zimmer Biomet Holdings Inc 2P2YLDVPES3BXQ1FRB91 98956P102 34211.00000000 NS USD 3872000.98000000 0.295814732084 Long EC CORP US N 1 N N N Medtronic PLC 549300GX3ZBSQWUXY261 G5960L103 241682.00000000 NS USD 21717544.52000000 1.659185947241 Long EC CORP US N 1 N N N Omnicom Group Inc HKUPACFHSSASQK8HLS17 681919106 26691.00000000 NS USD 2212950.81000000 0.169065931118 Long EC CORP US N 1 N N N Procter & Gamble Co/The 2572IBTT8CCZW6AU4141 742718109 72431.00000000 NS USD 12343691.02000000 0.943038411115 Long EC CORP US N 1 N N N N/A N/A N/A 94.00000000 NC USD -181893.52000000 -0.01389637636 N/A DE N/A N 1 MORGAN STANLEY & CO LLC 9R7GPTSO7KV3UQJZQ078 Long S&P 500 Index SPX 2025-06-20 26752168.52000000 USD -181893.52000000 N N N Nordson Corp 14OS6Q5N55N95WM84M53 655663102 37784.00000000 NS USD 7621788.48000000 0.582292548184 Long EC CORP US N 1 N N N Old Dominion Freight Line Inc 5299009TWK32WE417T96 679580100 45710.00000000 NS USD 7562719.50000000 0.577779771823 Long EC CORP US N 1 N N N Apple Inc HWUPKR0MPOU8FGXBT394 037833100 243588.00000000 NS USD 54108202.44000000 4.133780825739 Long EC CORP US N 1 N N N Conagra Brands Inc 54930035UDEIH090K650 205887102 122400.00000000 NS USD 3264408.00000000 0.249395592336 Long EC CORP US N 1 N N N Aptiv Holdings Ltd N/A G3265R107 98900.00000000 NS USD 5884550.00000000 0.449570284377 Long EC CORP US N 1 N N N Analog Devices Inc GYVOE5EZ4GDAVTU4CQ61 032654105 58065.00000000 NS USD 11709968.55000000 0.894623019784 Long EC CORP US N 1 N N N Trane Technologies PLC 549300BURLR9SLYY2705 G8994E103 16209.00000000 NS USD 5461136.28000000 0.417222147899 Long EC CORP US N 1 N N N Advanced Micro Devices Inc R2I72C950HOYXII45366 007903107 35743.00000000 NS USD 3672235.82000000 0.280552990780 Long EC CORP US N 1 N N N Amazon.com Inc ZXTILKJKG63JELOEG630 023135106 243410.00000000 NS USD 46311186.60000000 3.538101185243 Long EC CORP US N 1 N N N ConocoPhillips WPTL2Z3FIYTHSP5V2253 20825C104 159033.00000000 NS USD 16701645.66000000 1.275979231876 Long EC CORP US N 1 N N N Amphenol Corp 549300D3L3G0R4U4VT04 032095101 178132.00000000 NS USD 11683677.88000000 0.892614454306 Long EC CORP US N 1 N N N GSK PLC 5493000HZTVUYLO1D793 N/A 74432.00000000 NS USD 2883495.68000000 0.220294495391 Long EC CORP US N 1 N N N Microsoft Corp INR2EJN1ERAN0W5ZP974 594918104 156824.00000000 NS USD 58870161.36000000 4.497586932554 Long EC CORP US N 1 N N N First Citizens BancShares Inc/NC 549300N3Z00ZHE2XC526 31946M103 1332.00000000 NS USD 2469687.84000000 0.188680232906 Long EC CORP US N 1 N N N Shell PLC 21380068P1DRHMJ8KU70 N/A 143236.00000000 NS USD 10496334.08000000 0.801903271663 Long EC CORP US N 1 N N N Solventum Corp 254900I70403OSGY4M28 83444M101 36600.00000000 NS USD 2783064.00000000 0.212621674371 Long EC CORP US N 1 N N N Timken Co/The B0I35MLPFXZSE70ASS73 887389104 32800.00000000 NS USD 2357336.00000000 0.180096730573 Long EC CORP US N 1 N N N Visa Inc 549300JZ4OKEHW3DPJ59 92826C839 87163.00000000 NS USD 30547144.98000000 2.333753414548 Long EC CORP US N 1 N N N Cigna Group/The 549300VIWYMSIGT1U456 125523100 15300.00000000 NS USD 5033700.00000000 0.384566694219 Long EC CORP US N 1 N N N Goldman Sachs Group Inc/The 784F5XWPLTWKTBV3E584 38141G104 11056.00000000 NS USD 6039782.24000000 0.461429781243 Long EC CORP US N 1 N N N Adobe Inc FU4LY2G4933NH2E1CP29 00724F101 13218.00000000 NS USD 5069499.54000000 0.387301722281 Long EC CORP US N 1 N N N US Bancorp N1GZ7BBF3NP8GI976H15 902973304 210770.00000000 NS USD 8898709.40000000 0.679847280684 Long EC CORP US N 1 N N N Capital One Financial Corp ZUE8T73ROZOF6FLBAR73 14040H105 23500.00000000 NS USD 4213550.00000000 0.321908535357 Long EC CORP US N 1 N N N Citizens Financial Group Inc 2138004JDDA4ZQUPFW65 174610105 172861.00000000 NS USD 7082115.17000000 0.541062363472 Long EC CORP US N 1 N N N CBRE Group Inc 52990016II9MJ2OSWA10 12504L109 67679.00000000 NS USD 8851059.62000000 0.676206913086 Long EC CORP US N 1 N N N Charles Schwab Corp/The 549300VSGCJ7E698NM85 808513105 153959.00000000 NS USD 12051910.52000000 0.920746843814 Long EC CORP US N 1 N N N Deere & Co PWFTNG3EI0Y73OXWDH08 244199105 12031.00000000 NS USD 5646749.85000000 0.431402730178 Long EC CORP US N 1 N N N Bank of New York Mellon Corp/The WFLLPEPC7FZXENRZV188 064058100 68434.00000000 NS USD 5739559.58000000 0.438493246311 Long EC CORP US N 1 N N N PACCAR Inc KDTEY8BWE486IKZ3CC07 693718108 50380.00000000 NS USD 4905500.60000000 0.374772463443 Long EC CORP US N 1 N N N HCA Healthcare Inc 529900PH4ZGUH2MNEU89 40412C101 17000.00000000 NS USD 5874350.00000000 0.448791020559 Long EC CORP US N 1 N N N Schlumberger NV 213800ZUA17OK3QLGM62 806857108 127700.00000000 NS USD 5337860.00000000 0.407804035681 Long EC CORP US N 1 N N N Vanguard Cmt Funds-Vanguard Market Liquidity Fund 1I6HV0TLSTR3A4XQ6L78 N/A 2.67000000 NS USD 266.97000000 0.000020396084 Long STIV CORP US N 1 N N N Chubb Ltd E0JAN6VLUDI1HITHT809 H1467J104 29424.00000000 NS USD 8885753.76000000 0.678857490341 Long EC CORP US N 1 N N N General Dynamics Corp 9C1X8XOOTYY2FNYTVH06 369550108 8900.00000000 NS USD 2425962.00000000 0.185339648100 Long EC CORP US N 1 N N N Marvell Technology Inc N/A 573874104 147487.00000000 NS USD 9080774.59000000 0.693756772360 Long EC CORP US N 1 N N N Merck & Co Inc 4YV9Y5M8S0BRK1RP0397 58933Y105 106253.00000000 NS USD 9537269.28000000 0.728632242464 Long EC CORP US N 1 N N N Dominion Energy Inc ILUL7B6Z54MRYCF6H308 25746U109 194200.00000000 NS USD 10888794.00000000 0.831886586928 Long EC CORP US N 1 N N N HEICO Corp 529900O1DTDLCJ7L0I14 422806109 29984.00000000 NS USD 8011424.96000000 0.612060157112 Long EC CORP US N 1 N N N Equifax Inc 5493004MCF8JDC86VS77 294429105 33218.00000000 NS USD 8090576.08000000 0.618107177110 Long EC CORP US N 1 N N N Cenovus Energy Inc 549300F4XPHJ7NOSP309 15135U109 173400.00000000 NS USD 2411994.00000000 0.184272515060 Long EC CORP US N 1 N N N Hartford Financial Services Group Inc/The IU7C3FTM7Y3BQM112U94 416515104 49900.00000000 NS USD 6174127.00000000 0.471693507774 Long EC CORP US N 1 N N N Avery Dennison Corp 549300PW7VPFCYKLIV37 053611109 43486.00000000 NS USD 7739203.42000000 0.591262863325 Long EC CORP US N 1 N N N Home Depot Inc/The QEKMOTMBBKA8I816DO57 437076102 28837.00000000 NS USD 10568472.13000000 0.807414504239 Long EC CORP US N 1 N N N F5 Inc 54930015FPK9KT966303 315616102 92900.00000000 NS USD 24736483.00000000 1.889828057678 Long EC CORP US N 1 N N N Starbucks Corp OQSJ1DU9TAOC51A47K68 855244109 51621.00000000 NS USD 5063503.89000000 0.386843664133 Long EC CORP US N 1 N N N Cummins Inc ZUNI8PYC725B6H8JU438 231021106 24451.00000000 NS USD 7663921.44000000 0.585511439486 Long EC CORP US N 1 N N N Telefonaktiebolaget LM Ericsson 549300W9JLPW15XIFM52 N/A 2037305.00000000 NS USD 15809486.80000000 1.207819710349 Long EC CORP US N 1 N N N Marsh & McLennan Cos Inc 549300XMP3KDCKJXIU47 571748102 52625.00000000 NS USD 12842078.75000000 0.981114443013 Long EC CORP US N 1 N N N PPG Industries Inc 549300BKPEP01R3V6C59 693506107 19600.00000000 NS USD 2143260.00000000 0.163741663796 Long EC CORP US N 1 N N N Elevance Health Inc 8MYN82XMYQH89CTMTH67 036752103 33881.00000000 NS USD 14736879.76000000 1.125874234145 Long EC CORP US N 1 N N N American International Group Inc ODVCVCQG2BP6VHV36M30 026874784 185702.00000000 NS USD 16144931.88000000 1.233447182290 Long EC CORP US N 1 N N N Mondelez International Inc 549300DV9GIB88LZ5P30 609207105 116148.00000000 NS USD 7880641.80000000 0.602068531171 Long EC CORP US N 1 N N N Booking Holdings Inc FXM8FAOHMYDIPD38UZ17 09857L108 500.00000000 NS USD 2303455.00000000 0.175980307653 Long EC CORP US N 1 N N N Paramount Global 5KYC8KF17ROCY24M3H09 92556H206 235200.00000000 NS USD 2812992.00000000 0.214908126091 Long EC CORP US N 1 N N N Vanguard Cmt Funds-Vanguard Market Liquidity Fund 1I6HV0TLSTR3A4XQ6L78 N/A 67910859.61000000 NS USD 67904068.52000000 5.187763107616 Long STIV CORP US N 1 N N N Boston Scientific Corp Y6ZDD9FP4P8JSSJMW954 101137107 142821.00000000 NS USD 14407782.48000000 1.100731724054 Long EC CORP US N 1 N N N Eli Lilly & Co FRDRIPF3EKNDJ2CQJL29 532457108 16186.00000000 NS USD 13368179.26000000 1.021307687338 Long EC CORP US N 1 N N N Fidelity National Information Services Inc 6WQI0GK1PRFVBA061U48 31620M106 132700.00000000 NS USD 9910036.00000000 0.757111028491 Long EC CORP US N 1 N N N Coca-Cola Co/The UWJKFUJFZ02DKWI3RY53 191216100 195377.00000000 NS USD 13992900.74000000 1.069035417312 Long EC CORP US N 1 N N N Olin Corp 549300GKK294V7W57P06 680665205 175800.00000000 NS USD 4261392.00000000 0.325563588258 Long EC CORP US N 1 N N N CNH Industrial NV 549300WGC2HZ5J67V817 N20944109 429134.00000000 NS USD 5269765.52000000 0.402601725438 Long EC CORP US N 1 N N N APA Corp 549300VCIWLRHYVSHC79 03743Q108 705723.00000000 NS USD 14834297.46000000 1.133316791875 Long EC CORP US N 1 N N N Citigroup Inc 6SHGI4ZSSLCXXQSBB395 172967424 262303.00000000 NS USD 18620889.97000000 1.422606452349 Long EC CORP US N 1 N N N Intercontinental Exchange Inc 5493000F4ZO33MV32P92 45866F104 150286.00000000 NS USD 25924335.00000000 1.980578065994 Long EC CORP US N 1 N N N QUALCOMM Inc H1J8DDZKZP6H7RWC0H53 747525103 47846.00000000 NS USD 7349624.06000000 0.561499618275 Long EC CORP US N 1 N N N Comcast Corp 51M0QTTNCGUN7KFCFZ59 20030N101 390668.00000000 NS USD 14415649.20000000 1.101332728981 Long EC CORP US N 1 N N N Zoetis Inc 549300HD9Q1LOC9KLJ48 98978V103 40998.00000000 NS USD 6750320.70000000 0.515713792344 Long EC CORP US N 1 N N N Murphy Oil Corp QBKYQD0ODE7DC7PDIN91 626717102 56840.00000000 NS USD 1614256.00000000 0.123326597442 Long EC CORP US N 1 N N N Fluor Corp CQ7WZ4NOFWT7FAE6Q943 343412102 49050.00000000 NS USD 1756971.00000000 0.134229797030 Long EC CORP US N 1 N N N Salesforce Inc RCGZFPDMRW58VJ54VR07 79466L302 17809.00000000 NS USD 4779223.24000000 0.365125073473 Long EC CORP US N 1 N N N Baker Hughes Co N/A 05722G100 113100.00000000 NS USD 4970745.00000000 0.379757032095 Long EC CORP US N 1 N N N Accenture PLC 5493000EWHDSR3MZWH98 G1151C101 29017.00000000 NS USD 9054464.68000000 0.691746736976 Long EC CORP US N 1 N N N Vertex Pharmaceuticals Inc 54930015RAQRRZ5ZGJ91 92532F100 14274.00000000 NS USD 6920320.68000000 0.528701521117 Long EC CORP US N 1 N N N Exxon Mobil Corp J3WHBG0MTS7O8ZVMDC91 30231G102 174278.00000000 NS USD 20726882.54000000 1.583500943617 Long EC CORP US N 1 N N N Danaher Corp S4BKK9OTCEWQ3YHPFM11 235851102 60589.00000000 NS USD 12420745.00000000 0.948925212944 Long EC CORP US N 1 N N N Ovintiv Inc 2549003MEX7YMKLGI239 69047Q102 171300.00000000 NS USD 7331640.00000000 0.560125664622 Long EC CORP US N 1 N N N Corebridge Financial Inc 549300XY1661QCIA7J65 21871X109 162400.00000000 NS USD 5126968.00000000 0.391692221453 Long EC CORP US N 1 N N N Lithia Motors Inc SE8N1EZEHPZQBCBVKD53 536797103 7400.00000000 NS USD 2172196.00000000 0.165952328290 Long EC CORP US N 1 N N N McDonald's Corp UE2136O97NLB5BYP9H04 580135101 40587.00000000 NS USD 12678161.19000000 0.968591401478 Long EC CORP US N 1 N N N Anheuser-Busch InBev SA/NV 5493008H3828EMEXB082 N/A 77000.00000000 NS USD 4740120.00000000 0.362137647973 Long EC CORP US N 1 N N N Truist Financial Corp 549300DRQQI75D2JP341 89832Q109 95900.00000000 NS USD 3946285.00000000 0.301489913363 Long EC CORP US N 1 N N N Boeing Co/The RVHJWBXLJ1RFUBSY1F30 097023105 88352.00000000 NS USD 15068433.60000000 1.151204421523 Long EC CORP US N 1 N N N Blackstone Inc 5299004LW4QWGZUB8Y96 09260D107 74553.00000000 NS USD 10421018.34000000 0.796149268613 Long EC CORP US N 1 N N N RTX Corp I07WOS4YJ0N7YRFE7309 75513E101 60000.00000000 NS USD 7947600.00000000 0.607184031424 Long EC CORP US N 1 N N N WPP PLC 549300LSGBXPYHXGDT93 N/A 138100.00000000 NS USD 5242276.00000000 0.400501569721 Long EC CORP US N 1 N N N Warner Bros Discovery Inc 5493006ZCRFWKF6B1K26 934423104 378679.00000000 NS USD 4063225.67000000 0.310423995029 Long EC CORP US N 1 N N N FedEx Corp 549300E707U7WNPZN687 31428X106 42733.00000000 NS USD 10417450.74000000 0.795876709632 Long EC CORP US N 1 N N N Micron Technology Inc B3DXGBC8GAIYWI2Z0172 595112103 38860.00000000 NS USD 3376545.40000000 0.257962711794 Long EC CORP US N 1 N N N CVS Health Corp 549300EJG376EN5NQE29 126650100 155500.00000000 NS USD 10535125.00000000 0.804866836411 Long EC CORP US N 1 N N N Applied Materials Inc 41BNNE1AFPNAZELZ6K07 038222105 61715.00000000 NS USD 8956080.80000000 0.684230364626 Long EC CORP US N 1 N N N Norfolk Southern Corp 54930036C8MWP850MI84 655844108 18675.00000000 NS USD 4423173.75000000 0.337923457297 Long EC CORP US N 1 N N N Centene Corp 549300Z7JJ4TQSQGT333 15135B101 94560.00000000 NS USD 5740737.60000000 0.438583245170 Long EC CORP US N 1 N N N Wells Fargo & Co PBLD0EJDB5FWOLXP3B76 949746101 206333.00000000 NS USD 14812646.07000000 1.131662660028 Long EC CORP US N 1 N N N PPL Corp 9N3UAJSNOUXFKQLF3V18 69351T106 281755.00000000 NS USD 10174173.05000000 0.777290680068 Long EC CORP US N 1 N N N Bank of America Corp 9DJT3UXIJIZJI4WXO774 060505104 695040.00000000 NS USD 29004019.20000000 2.215861053068 Long EC CORP US N 1 N N N Workday Inc 549300J0DYC0N31V7G13 98138H101 83500.00000000 NS USD 19499755.00000000 1.489750346354 Long EC CORP US N 1 N N N AMETEK Inc 549300WZDEF9KKE40E98 031100100 42336.00000000 NS USD 7287719.04000000 0.556770172957 Long EC CORP US N 1 N N N Jacobs Solutions Inc N/A 46982L108 81974.00000000 NS USD 9909836.86000000 0.757095814511 Long EC CORP US N 1 N N N NOV Inc 549300EHF3IW1AR6U008 62955J103 644315.00000000 NS USD 9806474.30000000 0.749199078908 Long EC CORP US N 1 N N N Sanofi SA 549300E9PC51EN656011 N/A 47764.00000000 NS USD 2648991.44000000 0.202378743488 Long EC CORP US N 1 N N N Magna International Inc 95RWVLFZX6VGDZNNTN43 559222401 256675.00000000 NS USD 8724383.25000000 0.666529039386 Long EC CORP US N 1 N N N Humana Inc 529900YLDW34GJAO4J06 444859102 24700.00000000 NS USD 6535620.00000000 0.499310999478 Long EC CORP US N 1 N N N Unilever PLC 549300MKFYEKVRWML317 N/A 120993.00000000 NS USD 7205133.15000000 0.550460741980 Long EC CORP US N 1 N N N UnitedHealth Group Inc 549300GHBMY8T5GXDE41 91324P102 32527.00000000 NS USD 17036016.25000000 1.301524614485 Long EC CORP US N 1 N N N Kraft Heinz Co/The 9845007488EC87F5AF14 500754106 325500.00000000 NS USD 9904965.00000000 0.756723612136 Long EC CORP US N 1 N N N Broadcom Inc 549300WV6GIDOZJTV909 11135F101 90876.00000000 NS USD 15215368.68000000 1.162430028528 Long EC CORP US N 1 N N N BorgWarner Inc 549300DSFX2IE88NSX47 099724106 83100.00000000 NS USD 2380815.00000000 0.181890488924 Long EC CORP US N 1 N N N TE Connectivity PLC 6367003TB6K484NFHE54 G87052109 34860.00000000 NS USD 4926415.20000000 0.376370305703 Long EC CORP US N 1 N N N Rockwell Automation Inc VH3R4HHBHH12O0EXZJ88 773903109 21253.00000000 NS USD 5491350.14000000 0.419530438870 Long EC CORP US N 1 N N N American Express Co R4PP93JZOLY261QX3811 025816109 28631.00000000 NS USD 7703170.55000000 0.588510009222 Long EC CORP US N 1 N N N Cognizant Technology Solutions Corp 5493006IEVQEFQO40L83 192446102 30600.00000000 NS USD 2340900.00000000 0.178841046248 Long EC CORP US N 1 N N N Prologis Inc 529900DFH19P073LZ636 74340W103 87317.00000000 NS USD 9761167.43000000 0.745737705918 Long EC CORP US N 1 N N N Alphabet Inc 5493006MHB84DD0ZWV18 02079K305 249791.00000000 NS USD 38627680.24000000 2.951093488939 Long EC CORP US N 1 N N N Labcorp Holdings Inc N/A 504922105 10900.00000000 NS USD 2536866.00000000 0.193812537755 Long EC CORP US N 1 N N N 2025-05-28 VANGUARD VARIABLE INSURANCE FUNDS Ashley Grim Ashley Grim Treasurer XXXX