INTERNATIONAL PORTFOLIO

Fund Profile

Fund profile

Fund manager

Vanguard Variable Insurance Funds

Total assets

$2.93 bn

Liabilities

$9.27 mm

Net assets

$2.92 bn

Number of holdings

133.00

133 Holdings

As of Dec 2024

Security	$Holding	Balance	% of Fund	Category	Position	Country
TSMC	182.81 mm	5.63 mm shares	6.26	Common equity	Long	Taiwan
MELI MercadoLibre, Inc.	119.97 mm	70.55 k shares	4.11	Common equity	Long	USA
SPOTIFY TECHNOLO	116.76 mm	260.98 k shares	4.00	Common equity	Long	USA
Vanguard Market Liquidity Fund	106.82 mm	106.82 mm shares	3.66	Short-term investment vehicle	Long	USA
ADYEN NV	91.10 mm	61.30 k shares	3.12	Common equity	Long	Netherlands
ASML ASML Holding N.V.	79.85 mm	114.00 k shares	2.73	Common equity	Long	Netherlands
BYD COMPANY	60.42 mm	1.78 mm shares	2.07	Common equity	Long	Hong Kong
SEA LTD-ADR	59.53 mm	561.10 k shares	2.04	Common equity	Long	USA
NVDA NVIDIA Corporation	57.29 mm	426.59 k shares	1.96	Common equity	Long	USA
FERRARI NV	57.21 mm	134.08 k shares	1.96	Common equity	Long	Italy
TCEHY Tencent Holdings Limited	55.92 mm	1.05 mm shares	1.91	Common equity	Long	Hong Kong
CPNG Coupang, Inc.	55.86 mm	2.54 mm shares	1.91	Common equity	Long	USA
ARGENX SE	53.32 mm	86.31 k shares	1.82	Common equity	Long	Belgium
ATLAS COPCO-A	51.76 mm	3.39 mm shares	1.77	Common equity	Long	Sweden
PDD HOLDINGS INC	51.09 mm	526.71 k shares	1.75	Common equity	Long	USA
MEITUAN-W	49.35 mm	2.54 mm shares	1.69	Common equity	Long	Hong Kong
SHOP Shopify Inc.	49.27 mm	463.39 k shares	1.69	Common equity	Long	USA
MSFT Microsoft Corporation	46.87 mm	111.21 k shares	1.60	Common equity	Long	USA
NU Nu Holdings Ltd.	45.24 mm	4.37 mm shares	1.55	Common equity	Long	USA
SAP SE	42.59 mm	173.15 k shares	1.46	Common equity	Long	Germany
NOVO NORDISK-B	42.20 mm	489.13 k shares	1.44	Common equity	Long	Denmark
WISETECH GLOBAL	41.93 mm	561.71 k shares	1.43	Common equity	Long	Australia
HDFC BANK LTD	38.99 mm	1.89 mm shares	1.33	Common equity	Long	India
WIX Wix.com Ltd.	37.05 mm	172.68 k shares	1.27	Common equity	Long	USA
WISE PLC - A	36.15 mm	2.72 mm shares	1.24	Common equity	Long	UK
DSV A/S	34.55 mm	162.23 k shares	1.18	Common equity	Long	Denmark
ADVANTEST CORP	34.26 mm	602.50 k shares	1.17	Common equity	Long	Japan
ESTC Elastic N.V.	33.19 mm	334.97 k shares	1.14	Common equity	Long	USA
EXOR NV	32.49 mm	354.37 k shares	1.11	Common equity	Long	Netherlands
SHELL PLC	31.00 mm	987.65 k shares	1.06	Common equity	Long	Netherlands
MITSUBISHI UFJ F	29.61 mm	2.54 mm shares	1.01	Common equity	Long	Japan
SCHNEIDER ELECTR	29.34 mm	117.84 k shares	1.00	Common equity	Long	France
HERMES INTL	28.25 mm	11.77 k shares	0.97	Common equity	Long	France
L'OREAL	28.24 mm	79.77 k shares	0.97	Common equity	Long	France
AIA	27.24 mm	3.79 mm shares	0.93	Common equity	Long	Hong Kong
VESTAS WIND SYST	26.97 mm	1.97 mm shares	0.92	Common equity	Long	Denmark
UNILEVER PLC	23.28 mm	409.68 k shares	0.80	Common equity	Long	UK
ROCHE HLDG-GENUS	23.21 mm	83.02 k shares	0.79	Common equity	Long	Switzerland
THE BRANDTECH GROUP LLC	22.80 mm	3.90 mm shares	0.78	Common equity	Long	USA
BMW AG	19.22 mm	235.04 k shares	0.66	Common equity	Long	Germany
SONY GROUP CORP	19.09 mm	905.60 k shares	0.65	Common equity	Long	Japan
ERSTE GROUP BANK	18.80 mm	303.69 k shares	0.64	Common equity	Long	Austria
SMC CORP	17.16 mm	44.20 k shares	0.59	Common equity	Long	Japan
SARTORIUS AG-PFD	16.59 mm	74.67 k shares	0.57	Preferred equity	Long	Germany
DELIVERY HERO SE	16.18 mm	573.58 k shares	0.55	Common equity	Long	Germany
CIE FINANCI-REG	16.10 mm	106.43 k shares	0.55	Common equity	Long	Switzerland
BBVA	15.62 mm	1.60 mm shares	0.53	Common equity	Long	Spain
MRNA Moderna, Inc.	15.54 mm	373.77 k shares	0.53	Common equity	Long	USA
RELIANCE INDS	15.41 mm	1.09 mm shares	0.53	Common equity	Long	India
INFINEON TECH	15.18 mm	465.03 k shares	0.52	Common equity	Long	Germany
ASTRAZENECA PLC	14.86 mm	113.97 k shares	0.51	Common equity	Long	UK
VAT GROUP AG	14.83 mm	39.22 k shares	0.51	Common equity	Long	Switzerland
DIAGEO PLC	14.67 mm	461.50 k shares	0.50	Common equity	Long	UK
AMBU A/S-B	14.53 mm	1.00 mm shares	0.50	Common equity	Long	Denmark
SIEMENS AG-REG	14.52 mm	74.48 k shares	0.50	Common equity	Long	Germany
KDDI CORP	14.43 mm	453.20 k shares	0.49	Common equity	Long	Japan
GSK PLC	14.34 mm	850.43 k shares	0.49	Common equity	Long	UK
RELX PLC	14.25 mm	314.45 k shares	0.49	Common equity	Long	UK
UCBJF UCB SA	14.10 mm	70.84 k shares	0.48	Common equity	Long	Belgium
GENMAB A/S	14.09 mm	67.46 k shares	0.48	Common equity	Long	Denmark
FINECOBANK SPA	13.99 mm	801.77 k shares	0.48	Common equity	Long	Italy
TEAM Atlassian Corporation	13.67 mm	56.15 k shares	0.47	Common equity	Long	USA
RIO TINTO PLC	13.17 mm	223.14 k shares	0.45	Common equity	Long	UK
ILMN Illumina, Inc.	13.14 mm	98.37 k shares	0.45	Common equity	Long	USA
TD The Toronto-Dominion Bank	13.12 mm	246.35 k shares	0.45	Common equity	Long	Canada
PRYSMIAN SPA	12.98 mm	202.82 k shares	0.44	Common equity	Long	Italy
LEGRAND SA	12.71 mm	130.62 k shares	0.43	Common equity	Long	France
MMYT MakeMyTrip Limited	12.51 mm	111.43 k shares	0.43	Common equity	Long	USA
BANK CENTRAL ASI	12.36 mm	20.63 mm shares	0.42	Common equity	Long	Indonesia
MS&AD INSURANCE	12.35 mm	571.90 k shares	0.42	Common equity	Long	Japan
BATRA The Liberty Braves Group	11.99 mm	129.40 k shares	0.41	Common equity	Long	USA
RECRUIT HOLDINGS	11.93 mm	171.70 k shares	0.41	Common equity	Long	Japan
RECKITT BENCKISE	11.91 mm	196.83 k shares	0.41	Common equity	Long	UK
SANOFI	11.52 mm	118.48 k shares	0.39	Common equity	Long	France
BEIERSDORF AG	11.49 mm	89.27 k shares	0.39	Common equity	Long	Germany
ALCON INC	11.30 mm	133.26 k shares	0.39	Common equity	Long	Switzerland
HALEON PLC	11.30 mm	2.40 mm shares	0.39	Common equity	Long	UK
IBERDROLA SA	11.20 mm	812.83 k shares	0.38	Common equity	Long	Spain
NATIONAL GRID PL	11.20 mm	942.48 k shares	0.38	Common equity	Long	UK
BKNG Booking Holdings Inc.	10.83 mm	2.18 k shares	0.37	Common equity	Long	USA
LONZA GROUP -REG	10.59 mm	17.94 k shares	0.36	Common equity	Long	Switzerland
ITOCHU CORP	10.49 mm	213.40 k shares	0.36	Common equity	Long	Japan
DNB BANK ASA	10.48 mm	524.86 k shares	0.36	Common equity	Long	Norway
CHOCOLADEFABR-PC	10.34 mm	932.00 shares	0.35	Common equity	Long	Switzerland
ESSILORLUXOTTICA	10.32 mm	42.31 k shares	0.35	Common equity	Long	France
LULU Lululemon Athletica Inc.	10.29 mm	26.90 k shares	0.35	Common equity	Long	USA
HEINEKEN NV	10.21 mm	143.24 k shares	0.35	Common equity	Long	Netherlands
CONTEMPORARY A-A	9.67 mm	265.30 k shares	0.33	Common equity	Long	China
TSLA Tesla, Inc.	9.66 mm	23.92 k shares	0.33	Common equity	Long	USA
FUJIFILM HOLDING	9.58 mm	462.80 k shares	0.33	Common equity	Long	Japan
CNI Canadian National Railway Company	9.51 mm	93.61 k shares	0.33	Common equity	Long	Canada
BUNZL PLC	9.32 mm	226.45 k shares	0.32	Common equity	Long	UK
TERUMO CORP	9.22 mm	477.50 k shares	0.32	Common equity	Long	Japan
WUXI BIOLOGICS C	9.20 mm	4.10 mm shares	0.31	Common equity	Long	Hong Kong
BRIDGESTONE CORP	8.98 mm	267.30 k shares	0.31	Common equity	Long	Japan
TEMENOS AG-REG	8.63 mm	122.09 k shares	0.30	Common equity	Long	Switzerland
Vanguard Market Liquidity Fund	8.24 mm	82.36 k shares	0.28	Short-term investment vehicle	Long	USA
OCADO GROUP PLC	8.12 mm	2.15 mm shares	0.28	Common equity	Long	UK
FULL TRUCK A-ADR	8.01 mm	740.64 k shares	0.27	Common equity	Long	USA
LLOYDS BANKING	7.93 mm	11.61 mm shares	0.27	Common equity	Long	UK
SHENZHEN INOVA-A	7.58 mm	945.12 k shares	0.26	Common equity	Long	China
ZEALAND PHARMA A	7.54 mm	75.84 k shares	0.26	Common equity	Long	Denmark
TENCENT MUSI-ADR	7.42 mm	653.70 k shares	0.25	Common equity	Long	USA
SBI HOLDINGS INC	7.36 mm	293.00 k shares	0.25	Common equity	Long	Japan
WHITBREAD PLC	7.17 mm	194.74 k shares	0.25	Common equity	Long	UK
MBLY Mobileye Global Inc.	6.47 mm	324.70 k shares	0.22	Common equity	Long	USA
KINNEVIK AB - B	6.28 mm	940.95 k shares	0.21	Common equity	Long	Sweden
ARM HOLDINGS PLC	6.11 mm	49.56 k shares	0.21	Common equity	Long	USA
SVENSKA HAN-A	6.07 mm	587.72 k shares	0.21	Common equity	Long	Sweden
UMICORE	5.96 mm	577.07 k shares	0.20	Common equity	Long	Belgium
SOITEC	5.47 mm	60.82 k shares	0.19	Common equity	Long	France
AUTOSTORE HOLDIN	5.20 mm	5.31 mm shares	0.18	Common equity	Long	Norway
Ferguson Enterprises Inc.	5.04 mm	29.02 k shares	0.17	Common equity	Long	USA
RAIADROGASIL	5.02 mm	1.41 mm shares	0.17	Common equity	Long	Brazil
DAIKIN INDS	5.01 mm	42.90 k shares	0.17	Common equity	Long	Japan
BOC HONG KONG	4.84 mm	1.51 mm shares	0.17	Common equity	Long	Hong Kong
BURBERRY GROUP	4.59 mm	375.69 k shares	0.16	Common equity	Long	UK
SAMSUNG SDI CO	4.24 mm	25.66 k shares	0.15	Common equity	Long	Korea, Republic of
GANFENG LITHIU-H	4.23 mm	1.66 mm shares	0.14	Common equity	Long	Hong Kong
SHIMANO INC	4.16 mm	30.90 k shares	0.14	Common equity	Long	Japan
KOKUSAI ELECTRIC	2.93 mm	223.90 k shares	0.10	Common equity	Long	Japan
GALDERMA GROUP A	2.57 mm	23.10 k shares	0.09	Common equity	Long	Switzerland
JUMIA TECHNO-ADR	1.82 mm	477.45 k shares	0.06	Common equity	Long	USA
ANI TECHNOLOGIES	1.10 mm	19.17 k shares	0.04	Common equity	Long	India
BRUNELLO CUCINEL	808.92 k	7.41 k shares	0.03	Common equity	Long	Italy
EUR/USD FWD 20250319 BANK OF MONTREAL	33.67 k	1.00 contracts	0.00	DFE	N/A	N/A
Flipkart G Series Private - Dummy for ABOR	31.65 k	31.65 k shares	0.00	Common equity	Long	Singapore
Flipkart H Series Private - Dummy for ABOR	16.08 k	13.51 k shares	0.00	Common equity	Long	Singapore
SEK/USD FWD 20250319 UBS AG	9.32 k	1.00 contracts	0.00	DFE	N/A	N/A
CHF/USD FWD 20250319 STATE STREET BANK AND TRUST COMPANY	3.66 k	1.00 contracts	0.00	DFE	N/A	N/A
S&P500 EMINI FUT Mar25	-173.24 k	18.00 contracts	-0.01	Equity derivative	N/A	N/A
MSCI EmgMkt Mar25	-793.65 k	448.00 contracts	-0.03	Equity derivative	N/A	N/A
MSCI EAFE Mar25	-1.69 mm	466.00 contracts	-0.06	Equity derivative	N/A	N/A