NPORT-EX 2 2402_0001301708.htm
AZL
Balanced
Index
Strategy
Fund
Schedule
of
Portfolio
Investments
September
30,
2023
(Unaudited)
1
See
accompanying
notes
to
the
schedules
of
portfolio
investments.
Percentages
indicated
are
based
on
net
assets
as
of
September
30,
2023
.
Shares
Value
Affiliated
Investment
Companies
(
100
.2
%
):
Domestic
Equity
Funds
(
37
.3
%
):
1,242,413
AZL
Mid
Cap
Index
Fund,
Class
2
$
24,761,296‌
4,441,715
AZL
S&P
500
Index
Fund,
Class
2
84,747,924‌
1,154,517
AZL
Small
Cap
Stock
Index
Fund,
Class
2
13,242,313‌
122,751,533‌
1‌
Fixed
Income
Fund
(
50
.4
%
):
17,714,672
AZL
Enhanced
Bond
Index
Fund
165,809,326‌
Shares
Value
Affiliated
Investment
Companies,
continued
International
Equity
Fund
(
12
.5
%
):
2,537,060
AZL
International
Index
Fund,
Class
2
$
41,100,373‌
Total
Affiliated
Investment
Companies
(Cost
$283,087,966)
329,661,232‌
Total
Investment
Securities
(Cost
$283,087,966)
—
100.2%
329,661,232‌
Net
other
assets
(liabilities)
—
(0.2)%
(
628,636‌
)
Net
Assets
—
100.0%
$
329,032,596‌
AZL
DFA
Multi-Strategy
Fund
Schedule
of
Portfolio
Investments
September
30,
2023
(Unaudited)
2
See
accompanying
notes
to
the
schedules
of
portfolio
investments.
Percentages
indicated
are
based
on
net
assets
as
of
September
30,
2023
.
Shares
Value
Affiliated
Investment
Companies
(
100
.1
%
):
Domestic
Equity
Funds
(
47
.9
%
):
19,384,678
AZL
DFA
U.S.
Core
Equity
Fund
$
257,428,525
7,088,566
AZL
DFA
U.S.
Small
Cap
Fund
68,192,005
325,620,530
1
Fixed
Income
Fund
(
40
.3
%
):
29,255,138
AZL
Enhanced
Bond
Index
Fund
273,828,096
Shares
Value
Affiliated
Investment
Companies,
continued
International
Equity
Fund
(
11
.9
%
):
8,216,993
AZL
DFA
International
Core
Equity
Fund
$
81,266,066
Total
Affiliated
Investment
Companies
(Cost
$617,622,635)
680,714,692
Total
Investment
Securities
(Cost
$617,622,635)
—
100.1%
680,714,692
Net
other
assets
(liabilities)
—
(0.1)%
(
576,914
)
Net
Assets
—
100.0%
$
680,137,778
AZL
MVP
Balanced
Index
Strategy
Fund
Schedule
of
Portfolio
Investments
September
30,
2023
(Unaudited)
3
See
accompanying
notes
to
the
schedules
of
portfolio
investments.
Percentages
indicated
are
based
on
net
assets
as
of
September
30,
2023
.
Shares
Value
Affiliated
Investment
Companies
(
95
.1
%
):
Domestic
Equity
Funds
(
34
.7
%
):
2,849,055
AZL
Mid
Cap
Index
Fund,
Class
2
$
56,781,659‌
9,348,020
AZL
S&P
500
Index
Fund,
Class
2
178,360,214‌
2,635,257
AZL
Small
Cap
Stock
Index
Fund,
Class
2
30,226,400‌
265,368,273‌
1‌
Fixed
Income
Fund
(
47
.9
%
):
39,175,874
AZL
Enhanced
Bond
Index
Fund
366,686,183‌
Shares
Value
Affiliated
Investment
Companies,
continued
International
Equity
Fund
(
12
.5
%
):
5,906,154
AZL
International
Index
Fund,
Class
2
$
95,679,687‌
Total
Affiliated
Investment
Companies
(Cost
$717,314,277)
727,734,143‌
Total
Investment
Securities
(Cost
$717,314,277)
—
95.1%
727,734,143‌
Net
other
assets
(liabilities)
—
4.9%
37,740,209‌
Net
Assets
—
100.0%
$
765,474,352‌
Futures
Contracts
At
September
30,
2023,
the
Fund's
open
futures
contracts
were
as
follows:
Long
Futures
Description
Expiration
Date
Number
of
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/
(Depreciation)
S&P
500
Index
E-Mini
December
Futures
(U.S.
Dollar)
12/15/23
87
$
18,815,925‌
$
(
803,624‌
)
U.S.
Treasury
10-Year
Note
December
Futures
(U.S.
Dollar)
12/19/23
176
19,019,000‌
(
355,525‌
)
$
(
1,159,149‌
)
AZL
MVP
DFA
Multi-Strategy
Fund
Schedule
of
Portfolio
Investments
September
30,
2023
(Unaudited)
4
See
accompanying
notes
to
the
schedules
of
portfolio
investments.
Percentages
indicated
are
based
on
net
assets
as
of
September
30,
2023
.
Shares
Value
Affiliated
Investment
Companies
(
95
.1
%
):
Domestic
Equity
Funds
(
45
.0
%
):
35,280,459
AZL
DFA
U.S.
Core
Equity
Fund
$
468,524,501‌
13,992,156
AZL
DFA
U.S.
Small
Cap
Fund
134,604,545‌
603,129,046‌
1‌
Fixed
Income
Fund
(
38
.1
%
):
54,517,710
AZL
Enhanced
Bond
Index
Fund
510,285,766‌
Shares
Value
Affiliated
Investment
Companies,
continued
International
Equity
Fund
(
12
.0
%
):
16,270,182
AZL
DFA
International
Core
Equity
Fund
$
160,912,098‌
Total
Affiliated
Investment
Companies
(Cost
$1,250,405,211)
1,274,326,910‌
Total
Investment
Securities
(Cost
$1,250,405,211)
—
95.1%
1,274,326,910‌
Net
other
assets
(liabilities)
—
4.9%
65,627,200‌
Net
Assets
—
100.0%
$
1,339,954,110‌
Futures
Contracts
At
September
30,
2023,
the
Fund's
open
futures
contracts
were
as
follows:
Long
Futures
Description
Expiration
Date
Number
of
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/
(Depreciation)
S&P
500
Index
E-Mini
December
Futures
(U.S.
Dollar)
12/15/23
184
$
39,794,600‌
$
(
1,678,825‌
)
U.S.
Treasury
10-Year
Note
December
Futures
(U.S.
Dollar)
12/19/23
247
26,691,438‌
(
498,886‌
)
$
(
2,177,711‌
)
AZL
MVP
FIAM
Multi-Strategy
Fund
Schedule
of
Portfolio
Investments
September
30,
2023
(Unaudited)
5
See
accompanying
notes
to
the
schedules
of
portfolio
investments.
Percentages
indicated
are
based
on
net
assets
as
of
September
30,
2023
.
Shares
Value
Affiliated
Investment
Company
(
95
.2
%
):
Balanced
Funds
(
95
.2
%
):
23,737,921
AZL
Fidelity
Institutional
Asset
Management
Multi-
Strategy
Fund,
Class
2
$
307,168,699
Total
Affiliated
Investment
Company
(Cost
$293,187,961)
307,168,699
Total
Investment
Securities
(Cost
$293,187,961)
—
95.2%
307,168,699
Net
other
assets
(liabilities)
—
4.8%
15,447,929
Net
Assets
—
100.0%
$
322,616,628
Futures
Contracts
At
September
30,
2023,
the
Fund's
open
futures
contracts
were
as
follows:
Long
Futures
Description
Expiration
Date
Number
of
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/
(Depreciation)
S&P
500
Index
E-Mini
December
Futures
(U.S.
Dollar)
12/15/23
29
$
6,271,975‌
$
(
261,321‌
)
U.S.
Treasury
10-Year
Note
December
Futures
(U.S.
Dollar)
12/19/23
89
9,617,563‌
(
179,468‌
)
$
(
440,789‌
)
AZL
MVP
Global
Balanced
Index
Strategy
Fund
Schedule
of
Portfolio
Investments
September
30,
2023
(Unaudited)
6
See
accompanying
notes
to
the
schedules
of
portfolio
investments.
Percentages
indicated
are
based
on
net
assets
as
of
September
30,
2023
.
Shares
Value
Common
Stocks
(
0
.0
%
†
):
Chemicals
(
0
.0
%
†
):
145,123
Grand
Rounds,
Inc.,
Series
C(a)(b)
$
161,087
Paper
&
Forest
Products
(
0
.0
%
†
):
386,370
Quintis
Pty,
Ltd.(a)(b)
2
Total
Common
Stocks
(Cost
$653,277)
161,089
Private
Placements
(
0
.1
%
):
Household
Durables
(
0
.0
%
†
):
23,389
Jawbone,
0.00%(a)(b)
—
Internet
Software
&
Services
(
0
.1
%
):
5,547
Lookout,
Inc.,
0.00%(a)(b)
12,259
63,925
Lookout,
Inc.
Preferred
Shares,
Series
F,
0.00%(a)
(b)
266,567
278,826
Total
Private
Placements
(Cost
$485,378)
278,826
Principal
Amount
Convertible
Bond
(
0
.0
%
†
):
Food
Products
(
0
.0
%
†
):
$
400,000
REI
Agro,
Ltd.,
Registered
Shares,
5.50%,
12/8/19(a)(b)(c)
—
Total
Convertible
Bond
(Cost
$—)
—
Principal
Amount
Value
Corporate
Bonds
(
0
.0
%
†
):
Paper
&
Forest
Products
(
0
.0
%
†
):
$
52,331
Quintis
Pty,
Ltd.,
7.50%,
10/1/26,
Callable
11/6/23
@
101.88(a)(b)
$
33,544
730,672
Quintis
Pty,
Ltd.,
0.00%,
10/1/28,
Callable
11/6/23
@
100(a)(b)
—
Total
Corporate
Bonds
(Cost
$783,003)
33,544
Shares
Affiliated
Investment
Companies
(
95
.0
%
):
Fixed
Income
Fund
(
47
.9
%
):
24,848,747
AZL
Enhanced
Bond
Index
Fund
232,584,276
International
Equity
Fund
(
47
.1
%
):
16,536,819
AZL
MSCI
Global
Equity
Index
Fund,
Class
2
229,034,948
Total
Affiliated
Investment
Companies
(Cost
$457,858,504)
461,619,224
Total
Investment
Securities
(Cost
$459,780,162)
—
95.1%
462,092,683
Net
other
assets
(liabilities)
—
4.9%
23,658,897
Net
Assets
—
100.0%
$
485,751,580
†
Represents
less
than
0.05%.
(a)
Rule
144A,
Section
4(2)
or
other
security
which
is
restricted
to
resale
to
institutional
investors.
(b)
Security
was
valued
using
significant
unobservable
inputs
as
of
September
30,
2023.
(c)
Defaulted
bond.
Amounts
shown
as
“—“
are
either
$0
or
round
to
less
than
$1.
Futures
Contracts
At
September
30,
2023,
the
Fund's
open
futures
contracts
were
as
follows:
Long
Futures
Description
Expiration
Date
Number
of
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/
(Depreciation)
S&P
500
Index
E-Mini
December
Futures
(U.S.
Dollar)
12/15/23
55
$
11,895,125‌
$
(
498,012‌
)
U.S.
Treasury
10-Year
Note
December
Futures
(U.S.
Dollar)
12/19/23
112
12,103,000‌
(
226,128‌
)
$
(
724,140‌
)
AZL
MVP
Growth
Index
Strategy
Fund
Schedule
of
Portfolio
Investments
September
30,
2023
(Unaudited)
7
See
accompanying
notes
to
the
schedules
of
portfolio
investments.
Percentages
indicated
are
based
on
net
assets
as
of
September
30,
2023
.
Shares
Value
Affiliated
Investment
Companies
(
95
.0
%
):
Domestic
Equity
Funds
(
52
.1
%
):
10,409,175
AZL
Mid
Cap
Index
Fund,
Class
2
$
207,454,863‌
35,193,612
AZL
S&P
500
Index
Fund,
Class
2
671,494,121‌
9,028,933
AZL
Small
Cap
Stock
Index
Fund,
Class
2
103,561,858‌
982,510,842‌
1‌
Fixed
Income
Fund
(
23
.9
%
):
48,041,684
AZL
Enhanced
Bond
Index
Fund
449,670,162‌
Shares
Value
Affiliated
Investment
Companies,
continued
International
Equity
Fund
(
19
.0
%
):
22,120,081
AZL
International
Index
Fund,
Class
2
$
358,345,318‌
Total
Affiliated
Investment
Companies
(Cost
$1,535,303,983)
1,790,526,322‌
Total
Investment
Securities
(Cost
$1,535,303,983)
—
95.0%
1,790,526,322‌
Net
other
assets
(liabilities)
—
5.0%
93,403,409‌
Net
Assets
—
100.0%
$
1,883,929,731‌
Futures
Contracts
At
September
30,
2023,
the
Fund's
open
futures
contracts
were
as
follows:
Long
Futures
Description
Expiration
Date
Number
of
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/
(Depreciation)
S&P
500
Index
E-Mini
December
Futures
(U.S.
Dollar)
12/15/23
323
$
69,856,825‌
$
(
2,932,316‌
)
U.S.
Treasury
10-Year
Note
December
Futures
(U.S.
Dollar)
12/19/23
217
23,449,563‌
(
438,823‌
)
$
(
3,371,139‌
)
AZL
MVP
Moderate
Index
Strategy
Fund
Schedule
of
Portfolio
Investments
September
30,
2023
(Unaudited)
8
See
accompanying
notes
to
the
schedules
of
portfolio
investments.
Percentages
indicated
are
based
on
net
assets
as
of
September
30,
2023
.
Shares
Value
Affiliated
Investment
Companies
(
95
.1
%
):
Domestic
Equity
Funds
(
41
.8
%
):
1,626,886
AZL
Mid
Cap
Index
Fund,
Class
2
$
32,423,844‌
5,367,122
AZL
S&P
500
Index
Fund,
Class
2
102,404,695‌
1,411,413
AZL
Small
Cap
Stock
Index
Fund,
Class
2
16,188,910‌
151,017,449‌
1‌
Fixed
Income
Fund
(
38
.3
%
):
14,788,947
AZL
Enhanced
Bond
Index
Fund
138,424,542‌
Shares
Value
Affiliated
Investment
Companies,
continued
International
Equity
Fund
(
15
.0
%
):
3,347,114
AZL
International
Index
Fund,
Class
2
$
54,223,240‌
Total
Affiliated
Investment
Companies
(Cost
$325,844,436)
343,665,231‌
Total
Investment
Securities
(Cost
$325,844,436)
—
95.1%
343,665,231‌
Net
other
assets
(liabilities)
—
4.9%
17,841,707‌
Net
Assets
—
100.0%
$
361,506,938‌
Futures
Contracts
At
September
30,
2023,
the
Fund's
open
futures
contracts
were
as
follows:
Long
Futures
Description
Expiration
Date
Number
of
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/
(Depreciation)
S&P
500
Index
E-Mini
December
Futures
(U.S.
Dollar)
12/15/23
49
$
10,597,475‌
$
(
442,248‌
)
U.S.
Treasury
10-Year
Note
December
Futures
(U.S.
Dollar)
12/19/23
66
7,132,125‌
(
131,384‌
)
$
(
573,632‌
)
AZL
MVP
T.
Rowe
Price
Capital
Appreciation
Plus
Fund
Schedule
of
Portfolio
Investments
September
30,
2023
(Unaudited)
9
See
accompanying
notes
to
the
schedules
of
portfolio
investments.
Percentages
indicated
are
based
on
net
assets
as
of
September
30,
2023
.
Shares
Value
Affiliated
Investment
Companies
(
95
.0
%
):
Domestic
Equity
Funds
(
77
.0
%
):
15,677,058
AZL
S&P
500
Index
Fund,
Class
2
$
299,118,269‌
31,177,385
AZL
T.
Rowe
Price
Capital
Appreciation
Fund
554,957,453‌
854,075,722‌
1‌
Shares
Value
Affiliated
Investment
Companies,
continued
Fixed
Income
Fund
(
18
.0
%
):
21,359,096
AZL
Enhanced
Bond
Index
Fund
$
199,921,136‌
Total
Affiliated
Investment
Companies
(Cost
$947,369,458)
1,053,996,858‌
Total
Investment
Securities
(Cost
$947,369,458)
—
95.0%
1,053,996,858‌
Net
other
assets
(liabilities)
—
5.0%
55,056,477‌
Net
Assets
—
100.0%
$
1,109,053,335‌
Futures
Contracts
At
September
30,
2023,
the
Fund's
open
futures
contracts
were
as
follows:
Long
Futures
Description
Expiration
Date
Number
of
Contracts
Notional
Amount
Value
and
Unrealized
Appreciation/
(Depreciation)
S&P
500
Index
E-Mini
December
Futures
(U.S.
Dollar)
12/15/23
152
$
32,873,800‌
$
(
1,384,054‌
)
U.S.
Treasury
10-Year
Note
December
Futures
(U.S.
Dollar)
12/19/23
205
22,152,813‌
(
416,368‌
)
$
(
1,800,422‌
)
ALLIANZ
VARIABLE
INSURANCE
PRODUCTS
FUND
OF
FUND
TRUST
NOTES
TO
THE
SCHEDULES
OF
PORTFOLIO
INVESTMENTS
September
30,
2023
(Unaudited)
10
1.
Related
Party
Transactions
Allianz
Investment
Management
LLC
(the
“Manager”)
or
an
affiliate
of
the
Manager
serves
as
the
investment
adviser
of
certain
underlying
funds
in
which
each
Fund
invests.
At
September
30,
2023,
the
following
investments
in
underlying
funds
are
noted
as
Affiliated
Investment
Companies
in
each
Fund’s
Schedule
of
Portfolio
Investments.
Value
12/31/22
Purchases
at
Cost
Proceeds
from
Sales
Net
Realized
Gains
(Losses)
Change
in
Net
Unrealized
Appreciation
(Depreciation)
Value
09/30/23
Shares
as
of
09/30/23
AZL
Balanced
Index
Strategy
Fund
AZL
Enhanced
Bond
Index
Fund
$
171,530
,
181‌
$
2
,
176
,
412‌
$
(
5
,
859
,
061‌
)
$
(
1
,
129
,
524‌
)
$
(
908
,
682‌
)
$
165
,
809
,
326‌
17
,
714
,
672‌
AZL
International
Index
Fund,
Class
2
43,
1
79
,
803‌
124
,
669‌
(
4
,
970
,
496‌
)
953
,
248‌
1
,
813
,
149‌
41
,
100
,
373‌
2
,
537
,
060‌
AZL
Mid
Cap
Index
Fund,
Class
2
26,03
6,
905‌
1
,
459
,
032‌
(
3
,
992
,
264‌
)
756
,
119‌
501
,
504‌
24
,
761
,
296‌
1
,
242
,
413‌
AZL
S&P
500
Index
Fund,
Class
2
88,49
5,3
41‌
1
,
190
,
583‌
(
16
,
124
,
162‌
)
3
,
291
,
546‌
7
,
894
,
616‌
84
,
747
,
924‌
4
,
441
,
715‌
AZL
Small
Cap
Stock
Index
Fund,
Class
2
13,969
,
790‌
550
,
041‌
(
1
,
433
,
437‌
)
248
,
826‌
(
92
,
907‌
)
13,242
,
313‌
1
,
154
,
517‌
$
343,212
,
020‌
$
5
,
500
,
737‌
$
(
32
,
379
,
420‌
)
$
4
,
120
,
215‌
$
9
,
2
07,680‌
$
329
,
6
6
1
,
232‌
27
,
090
,
377‌
AZL
DFA
Multi-Strategy
Fund
AZL
DFA
Five-Year
Global
Fixed
Income
Fund
$
288,
8
77,
8
15‌
$
2,493,453‌
$
(29
0
,348,855)‌
$
(48,462,076)‌
$
4
7,439,663‌
$
—‌
—‌
AZL
DFA
International
Core
Equity
Fund
87,434,596
‌
—‌
(11,
1
89,210)‌
162,054
4,858,626‌
81,266,
0
66‌
8,216,993‌
AZL
DFA
U.S.
Core
Equity
Fund
274,198,533‌
—‌
(39,834,712)‌
2,424,905
20,639,799‌
257,428,
5
25‌
19,384,678‌
AZL
DFA
U.S.
Small
Cap
Fund
73,002,157‌
14,891‌
(6,468,255)‌
(234,
5
21)
1,877,733‌
68,192,00
5‌
7,088,
5
6
6‌
AZL
Enhanced
Bond
Index
Fund
—‌
289,084,55
0‌
(11,09
5
,867
)‌
2
27,684
(4,388,271)‌
273,828,09
6‌
29,255,
1
38‌
$
723,513,101‌
$
291,592,894‌
$
(
35
8,936,899)‌
$
(45,881,954)‌
$
70,42
7
,
5
50‌
$
680,714,692‌
63,945,3
7
5‌
AZL
MVP
Balanced
Index
Strategy
Fund
AZL
Enhanced
Bond
Index
Fund
$
114,593,573‌
$
274
,
508
,
016‌
$(
11
,
960
,
144
)‌
$
(
2
,
121
,
268
)‌
$
(
8
,
333
,
994
)‌
$
366
,
686
,
183‌
39
,
175
,
874‌
AZL
International
Index
Fund,
Class
2
30,081,134‌
72
,
850
,
754‌
(
10
,
816
,
454
)‌
1
,
844
,
408‌
1
,
719
,
845‌
95
,
679
,
687‌
5
,
906
,
154‌
AZL
Mid
Cap
Index
Fund,
Class
2
18,126,803‌
44
,
487
,
024‌
(
8
,
664
,
037
)‌
1
,
171
,
115‌
1
,
660
,
754‌
56
,
781
,
659‌
2
,
849
,
055‌
AZL
S&P
500
Index
Fund,
Class
2
56,215,335‌
137
,
331
,
589‌
 (
38
,
344
,
111
)‌
14
,
769
,
969‌
8
,
387
,
432‌
178
,
360
,
214‌
9
,
348
,
020‌
AZL
Small
Cap
Stock
Index
Fund,
Class
2
9,583,863‌
23
,
614
,
291‌
(
3
,
352
,
387
)‌
204
,
731‌
175
,
902‌
30
,
226
,
400‌
2
,
635
,
257‌
$
228,600,708‌
$
552
,
791
,
674‌
$(
73
,
137
,
133
)‌
$
15
,
868
,
955‌
$
3
,
609
,
939‌
$
727
,
734
,
143‌
59
,
914
,
360‌
AZL
MVP
DFA
Multi-Strategy
Fund
AZL
DFA
Five-Year
Global
Fixed
Income
Fund
$
30
,
138
,
829‌
$
242
,
020‌
$
(
30
,
274
,
424
)‌
$
(
4
,
776
,
906
)‌
$
4
,
670
,
481‌
$
—‌
—‌
AZL
DFA
International
Core
Equity
Fund
9,663,475‌
162
,
698
,
306‌
(
14
,
911
,
816
)‌
1
,
078
,
452‌
2
,
383
,
681‌
160
,
912
,
098‌
16
,
270
,
182‌
AZL
DFA
U.S.
Core
Equity
Fund
27,380,862‌
468
,
815
,
922‌
(
68
,
097
,
504
)‌
8
,
539
,
929‌
31
,
885
,
292‌
468
,
524
,
501‌
35
,
280
,
459‌
AZL
DFA
U.S.
Small
Cap
Fund
7,927,626‌
134
,
972
,
113‌
(
11
,
723
,
099
)‌
747
,
665‌
2
,
680
,
240‌
134
,
604
,
545‌
13
,
992
,
156‌
AZL
Enhanced
Bond
Index
Fund
—‌
537
,
926
,
660‌
(
10
,
415
,
610
)‌
(
22,995
)‌
(
17
,
202
,
289
)‌
510
,
285
,
766‌
54
,
517
,
710‌
$
75,110,792‌
$
1
,
304
,
655
,
021‌
$
(
135
,
422
,
453
)‌
$
5
,
566
,
145‌
$
24
,
417
,
405‌
$
1
,
274
,
326
,
910‌
120
,
060
,
507‌
AZL
MVP
FIAM
Multi-Strategy
Fund
AZL
Fidelity
Institutional
Asset
Management
Multi-
Strategy
Fund
$
173,726,137‌
$
162,812,740‌
$
(42,089,827‌)
$
723,311‌
$
11,996,338‌
$
307,168,69
9‌
23,737
,
921‌
AZL
MVP
Global
Balanced
Index
Strategy
Fund
AZL
Enhanced
Bond
Index
Fund
$
246,907,613‌
$
—‌
$
(
11
,
555
,
884‌
)
$
(
1
,
843
,
342‌
)
$
(
924
,
111‌
)
$
232
,
584
,
276‌
24
,
848
,
747‌
AZL
MSCI
Emerging
Markets
Equity
Index
Fund,
Class
2
25,965,885‌
—‌
(28,400,038‌)
(2,649,370‌)
5,083,523‌
—‌
—‌
AZL
MSCI
Global
Equity
Index
Fund,
Class
2
220,830,950‌
23,981,062‌
(
39
,
838
,
417‌
)
4,662,1
7
4‌
19,399
,
179‌
229,034,948‌
16,536
,
819‌
$
493,704,448‌
$
23,981,062‌
$
(79,794,33
9‌)
$
169,462‌
$
23,55
8,
5
9
1‌
$
461,619
,
224‌
41,385,566‌
AZL
MVP
Growth
Index
Strategy
Fund
AZL
Enhanced
Bond
Index
Fund
$
464,001,120‌
$
1
,
993
,
684‌
$
(
10
,
711
,
643‌
)
$
(
2
,
273
,
460‌
)
$
(
3
,
339
,
539‌
)
$
449
,
670
,
162‌
48
,
041
,
684‌
AZL
International
Index
Fund,
Class
2
379,557,841‌
—‌
(
45
,
611
,
222‌
)
4
,
016
,
251‌
20
,
382
,
448‌
358
,
345
,
318‌
22
,
120
,
081‌
AZL
Mid
Cap
Index
Fund,
Class
2
216,973,253‌
—‌
(
19
,
137
,
739‌
)
1
,
162
,
856‌
8
,
456
,
493‌
207
,
454
,
863‌
10
,
409
,
175‌
AZL
S&P
500
Index
Fund,
Class
2
704,027,251‌
—‌
(
120
,
719
,
794‌
)
21
,
097
,
869‌
67
,
088
,
795‌
671
,
494
,
121‌
35
,
193
,
612‌
AZL
Small
Cap
Stock
Index
Fund,
Class
2
104,857,311‌
—‌
(
1
,
776
,
561‌
)
(
32
,
231‌
)
513
,
339‌
103
,
561
,
858‌
9
,
028
,
933‌
$
1,869,416,776‌
$
1
,
993
,
684‌
$
(
197
,
956
,
959‌
)
$
23
,
971
,
285‌
$
93
,
101
,
536‌
$
1
,
790
,
526
,
322‌
124
,
793
,
485‌
AZL
MVP
Moderate
Index
Strategy
Fund
AZL
Enhanced
Bond
Index
Fund
$
149,874,048‌
$
46
,
012‌
$
(
9
,
887
,
418‌
)
$
(
1
,
938
,
077‌
)
$
329
,
977‌
$
138
,
424
,
542‌
14
,
788
,
947‌
AZL
International
Index
Fund,
Class
2
59,272,264‌
—‌
(
8
,
914
,
468‌
)
1
,
390
,
464‌
2
,
474
,
980‌
54
,
223
,
240‌
3
,
347
,
114‌
AZL
Mid
Cap
Index
Fund,
Class
2
35,690,028‌
441
,
841‌
(
5
,
381
,
378‌
)
379
,
297‌
1
,
294
,
056‌
32
,
423
,
844‌
1
,
626
,
886‌
AZL
S&P
500
Index
Fund,
Class
2
111,349,034‌
—‌
(
22
,
818
,
081‌
)
3
,
999
,
318‌
9
,
874
,
424‌
102
,
404
,
695‌
5
,
367
,
122‌
AZL
Small
Cap
Stock
Index
Fund,
Class
2
17,714,768‌
113
,
320‌
(
1
,
832
,
681‌
)
20
,
017‌
173
,
486‌
16
,
188
,
910‌
1
,
411
,
413‌
$
373,900,142‌
$
601
,
173‌
$
(
48
,
834
,
026‌
)
$
3
,
851
,
019‌
$
14
,
146
,
923‌
$
343
,
665
,
231‌
26
,
541
,
482‌
ALLIANZ
VARIABLE
INSURANCE
PRODUCTS
FUND
OF
FUND
TRUST
NOTES
TO
THE
SCHEDULES
OF
PORTFOLIO
INVESTMENTS
September
30,
2023
(Unaudited)
11
2.
Restricted
Securities
A
restricted
security
is
a
security
which
has
been
purchased
through
a
private
offering
and
cannot
be
resold
to
the
general
public
without
prior
registration
under
the
Securities
Act
of
1933
(the
“1933
Act”)
or
pursuant
to
the
resale
limitations
provided
by
Rule
144A
under
the
1933
Act,
or
an
exemption
from
the
registration
requirements
of
the
1933
Act.
Whether
a
restricted
security
is
illiquid
is
determined
pursuant
to
guidelines
established
by
the
Trustees.
Not
all
restricted
securities
are
considered
illiquid.
The
illiquid
restricted
securities
held
as
of
September
30,
2023
are
identified
below.
AZL
MVP
Global
Balanced
Index
Strategy
Fund
AZL
MVP
T.
Rowe
Capital
Appreciation
Plus
Fund
AZL
Enhanced
Bond
Index
Fund
$
202,148,827‌
$
471,849‌
$
(122,980‌)
$
(36,419‌)
$
(2,540,141‌)
$
199,
9
21,13
6‌
21,359
,
096‌
AZL
S&P
500
Index
Fund,
Class
2
310,293,240‌
—‌
(49,913,444‌)
10,330,807‌
28,407,666‌
299,118,
2
69‌
15,677
,
058‌
AZL
T.
Rowe
Price
Capital
Appreciation
Fund
580,347,796‌
—‌
(79,266,656‌)
(10,126,769‌)
64,003,082‌
554,957,4
5
3‌
31,177
,
385‌
$
1,092,789,863‌
$
471,849‌
$
(129,303,080‌)
$
167,619‌
$
89,870,607‌
$
1,053,9
9
6,8
5
8‌
68,213,539‌
Security
Acquisition
Date
(a)
Acquisition
Cost
Shares
or
Principal
Amount
Value
Percentage
of
Net
Assets
Grand
Rounds,
Inc.,
Series
C
3/31/15
$
399,608‌
145,123‌
$
161,087‌
0.03%
Jawbone
1/24/17
–‌
23
,
389‌
–‌
0.00%
Lookout,
Inc.
3/4/15
3,384‌
5,547‌
12
,2
59‌
0.00%
Lookout,
Inc.
Preferred
Shares,
Series
F,
9/19/14
481,99
4‌
63,925‌
266,56
7‌
0.05%
Quintis
Pty,
Ltd.,
7.50%,
Callable
11/6/23
@
101.88
10/25/18
52,331‌
52,331‌
33,544‌
0.01%
Quintis
Pty,
Ltd.,
10/1/28,
Callable
11/6/23
@
100.00
10/25/18
730,672‌
730,672‌
–‌
0.00%
Quintis
Pty,
Ltd.
10/25/18
253
,
669‌
386,370‌
2‌
0.00%
REI
Agro,
Ltd.,
Registered
Shares,
5.50%,12/8/19
2/7/12
–‌
400,000‌
–‌
0.00%
(a)
Acquisition
date
represents
the
initial
purchase
date
of
the
security.