Lincoln Variable Insurance Products Trust NPORT-P Lincoln iShares(R) U.S. Moderate Allocation Fund (Sep 2021 report)

Lincoln iShares^® U.S. Moderate Allocation Fund

Schedule of Investments

September 30, 2021 (unaudited)

	Number of Shares	Value (U.S. $)
INVESTMENT COMPANIES–102.12%
Equity Funds–63.81%
iShares Core S&P 500 ETF	703	$302,867
iShares Core S&P Mid-Cap ETF	307	80,762
iShares Core S&P Small-Cap ETF	324	35,378
iShares Edge MSCI Min Vol USA ETF	811	59,609
iShares Edge MSCI USA Momentum Factor ETF	192	33,715
		512,331
Fixed Income Funds–38.13%
iShares 1-3 Year Treasury Bond ETF	254	21,882
iShares 20+ Year Treasury Bond ETF	47	6,783
iShares Broad USD Investment Grade Corporate Bond ETF	465	27,947
iShares Core U.S. Aggregate Bond ETF	1,433	164,551

	Number of Shares	Value (U.S. $)
INVESTMENT COMPANIES (continued)
Fixed Income Funds (continued)
iShares Core U.S. Treasury Bond ETF	1,306	$ 34,648
iShares iBoxx $ High Yield Corporate Bond ETF	175	15,311
iShares iBoxx $ Investment Grade Corporate Bond ETF	52	6,918
iShares MBS ETF	260	28,116
		306,156
Money Market Fund–0.18%
State Street Institutional U.S. Government Money Market Fund - Premier Class (seven-day effective yield 0.03%)	1,469	1,469
		1,469
Total Investment Companies (Cost $590,711)		819,956

TOTAL INVESTMENTS–102.12% (Cost $590,711)	819,956
LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(2.12%)	(16,993)
NET ASSETS APPLICABLE TO 55,293 SHARES OUTSTANDING–100.00%	$802,963

Summary of Abbreviations:

ETF–Exchange-Traded Fund

MBS–Mortgage-Backed Security

MSCI–Morgan Stanley Capital International

S&P–Standard & Poor’s

See accompanying notes.

Lincoln iShares^® U.S. Moderate Allocation Fund–1

Lincoln iShares^® U.S. Moderate Allocation Fund

Notes

September 30, 2021 (unaudited)

1. Significant Accounting Policies

Lincoln Variable Insurance Products Trust (“LVIP” or the “Trust”)–Lincoln iShares^® U.S. Moderate Allocation Fund (the “Fund”) is an investment company in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). Therefore, the Fund follows the accounting and reporting guidelines for investment companies. The following accounting policies are in accordance with U.S. GAAP and are consistently followed by the Fund.

Security Valuation –The Fund operates under a fund of funds structure and invests substantially all of its assets in open-end investment companies and Exchange-Traded Funds (“Underlying ETFs”) or financial instruments that provide exposure to such underlying ETFs, which, in turn, invest in equity and fixed income securities and money market instruments (collectively, the “Underlying Funds”). ETFs, except those traded on The Nasdaq Stock Market LLC (“Nasdaq”), are valued at the last quoted sales price as of the time of the regular close of the New York Stock Exchange (“NYSE”) on the valuation date. ETFs traded on Nasdaq are valued in accordance with the Nasdaq Official Closing Price, which may not be the last sales price. If on a particular day an ETF does not trade, then the mean between the bid and ask prices is used, which approximates fair value. The Fund values Underlying Funds that are open-end funds at their published net asset value (“NAV”), computed as of the close of regular trading on the NYSE on days when the NYSE is open. Securities of each open-end Underlying Fund are valued under the valuation policy of such Underlying Fund. For information regarding the determination of the Underlying Funds’ NAVs, see the Underlying Funds’ prospectuses and statements of additional information. Financial statements for the Underlying Funds can be found at www.sec.gov. 

 Investments in government money market funds have a stable NAV.

2. Investments

U.S. GAAP defines fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. A three level hierarchy for fair value measurements has been established based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed based on the best information available under the circumstances. Each investment in its entirety is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three level hierarchy of inputs is summarized below.

Level 1–	inputs are quoted prices in active markets for identical investments (e.g., equity securities, open-end investment companies, futures contracts, options contracts)
Level 2–	other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs) (e.g., debt securities, government securities, swap contracts, foreign currency exchange contracts, foreign securities utilizing international fair value pricing)
Level 3–	inputs are significant unobservable inputs (including the Fund's own assumptions used to determine the fair value of investments) (e.g., indicative quotes from brokers, fair valued securities)

The following table summarizes the valuation of the Fund's investments by fair value hierarchy levels as of September 30, 2021:

	Level 1	Level 2	Level 3	Total
Investments:
Assets:
Investment Companies	$819,956	$—	$—	$819,956

There were no Level 3 investments at the beginning or end of the period.

Lincoln iShares^® U.S. Moderate Allocation Fund–2