SCHEDULE OF INVESTMENTS

GUARDIAN DIVERSIFIED RESEARCH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 97.5%
Aerospace & Defense — 2.4%
Boeing Co.(1)		1,424	$	272,696
CAE, Inc. (Canada)(1)		11,276		293,502
General Dynamics Corp.		1,200		289,416
Northrop Grumman Corp.		3,732		1,669,025
Raytheon Technologies Corp.		16,786		1,662,989
				4,187,628
Airlines — 0.3%
Southwest Airlines Co.(1)		12,372		566,638
				566,638
Automobiles — 2.1%
General Motors Co.(1)		7,174		313,791
Tesla, Inc.(1)		3,217		3,466,639
				3,780,430
Banks — 3.0%
Bank of America Corp.		49,322		2,033,053
Citigroup, Inc.		49,850		2,661,990
Silvergate Capital Corp., Class A(1)		4,355		655,732
				5,350,775
Beverages — 2.4%
Coca-Cola Co.		27,531		1,706,922
Constellation Brands, Inc., Class A		780		179,650
PepsiCo, Inc.		14,158		2,369,766
				4,256,338
Biotechnology — 3.0%
AbbVie, Inc.		14,630		2,371,669
Amgen, Inc.		2,001		483,882
Ascendis Pharma A/S, ADR(1)		4,175		489,978
Ironwood Pharmaceuticals, Inc.(1)		28,158		354,228
Regeneron Pharmaceuticals, Inc.(1)		2,170		1,515,571
				5,215,328
Building Products — 0.9%
Johnson Controls International PLC		23,118		1,515,847
				1,515,847
Capital Markets — 2.7%
Charles Schwab Corp.		10,788		909,536
GoGreen Investments Corp.(1)(2)		22,514		227,617
Goldman Sachs Group, Inc.		6,404		2,113,960
KKR & Co., Inc.		14,098		824,310
Quilter PLC (United Kingdom)(3)		379,642		705,108
				4,780,531
Chemicals — 1.8%
Corteva, Inc.		17,499		1,005,843
Eastman Chemical Co.		3,266		365,988
Linde PLC		1,847		589,987
PPG Industries, Inc.		3,378		442,754
Sherwin-Williams Co.		2,830		706,425
				3,110,997
Construction Materials — 0.2%
CRH PLC, ADR		7,382		295,723
				295,723

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN DIVERSIFIED RESEARCH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Containers & Packaging — 0.4%
Avery Dennison Corp.		4,328	$	752,942
				752,942
Diversified Financial Services — 0.8%
Apollo Global Management, Inc.		21,964		1,361,548
				1,361,548
Electric Utilities — 2.5%
American Electric Power Co., Inc.		6,074		606,003
NextEra Energy, Inc.		11,218		950,277
NRG Energy, Inc.		72,894		2,796,214
				4,352,494
Electrical Equipment — 0.5%
Emerson Electric Co.		9,030		885,392
				885,392
Electronic Equipment, Instruments & Components — 0.4%
Vontier Corp.		24,536		622,969
				622,969
Entertainment — 0.7%
Sea Ltd., ADR(1)		1,756		210,351
Walt Disney Co.(1)		7,056		967,801
				1,178,152
Equity Real Estate Investment Trusts (REITs) — 1.0%
Gaming and Leisure Properties, Inc.		29,357		1,377,724
Vornado Realty Trust		9,809		444,544
				1,822,268
Food & Staples Retailing — 1.7%
BJ’s Wholesale Club Holdings, Inc.(1)		2,304		155,774
Costco Wholesale Corp.		1,672		962,821
Walmart, Inc.		12,495		1,860,755
				2,979,350
Food Products — 0.3%
McCormick & Co., Inc.		5,103		509,279
				509,279
Health Care Equipment & Supplies — 2.3%
Abbott Laboratories		6,037		714,539
Baxter International, Inc.		3,795		294,264
Boston Scientific Corp.(1)		21,616		957,373
Cooper Cos., Inc.		617		257,653
Dexcom, Inc.(1)		960		491,136
Edwards Lifesciences Corp.(1)		1,129		132,906
Intuitive Surgical, Inc.(1)		2,019		609,092
Medtronic PLC		5,439		603,457
				4,060,420
Health Care Providers & Services — 3.6%
Anthem, Inc.		2,995		1,471,204
Cardinal Health, Inc.		3,165		179,456
Cigna Corp.		3,007		720,507
CVS Health Corp.		4,371		442,389
McKesson Corp.		1,603		490,726
UnitedHealth Group, Inc.		5,982		3,050,641
				6,354,923

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN DIVERSIFIED RESEARCH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Hotels, Restaurants & Leisure — 2.1%
Aramark		10,070	$	378,632
Booking Holdings, Inc.(1)		581		1,364,449
Chipotle Mexican Grill, Inc.(1)		453		716,660
Hilton Worldwide Holdings, Inc.(1)		5,528		838,819
Penn National Gaming, Inc.(1)		9,834		417,158
				3,715,718
Household Durables — 0.6%
PulteGroup, Inc.		23,775		996,172
				996,172
Household Products — 1.7%
Procter & Gamble Co.		19,902		3,041,026
				3,041,026
Industrial Conglomerates — 0.9%
General Electric Co.		4,961		453,932
Honeywell International, Inc.		5,992		1,165,923
				1,619,855
Insurance — 2.8%
AIA Group Ltd. (Hong Kong)		45,400		475,312
Assured Guaranty Ltd.		41,931		2,669,327
AXA SA (France)		25,874		755,622
Prudential PLC (United Kingdom)		71,535		1,056,699
				4,956,960
Interactive Media & Services — 5.1%
Alphabet, Inc., Class A(1)		2,441		6,789,276
Meta Platforms, Inc., Class A(1)		9,698		2,156,447
				8,945,723
Internet & Direct Marketing Retail — 5.4%
Amazon.com, Inc.(1)		2,947		9,607,073
				9,607,073
IT Services — 5.0%
Fidelity National Information Services, Inc.		26,375		2,648,578
Mastercard, Inc., Class A		10,965		3,918,672
PayPal Holdings, Inc.(1)		4,911		567,957
Visa, Inc., Class A		7,381		1,636,884
				8,772,091
Life Sciences Tools & Services — 2.3%
Avantor, Inc.(1)		13,592		459,681
Bio-Rad Laboratories, Inc., Class A(1)		898		505,781
Danaher Corp.		4,794		1,406,224
Illumina, Inc.(1)		1,121		391,677
Thermo Fisher Scientific, Inc.		2,280		1,346,682
				4,110,045
Machinery — 1.5%
Deere & Co.		1,898		788,543
Ingersoll Rand, Inc.		10,325		519,864
Otis Worldwide Corp.		17,209		1,324,232
				2,632,639
Metals & Mining — 0.6%
Agnico Eagle Mines Ltd. (Canada)		5,030		307,799
Alamos Gold, Inc., Class A		51,124		430,464
Anglo American PLC (United Kingdom)		5,822		300,278
				1,038,541

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN DIVERSIFIED RESEARCH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Multi-Utilities — 0.3%
Ameren Corp.		6,019	$	564,341
				564,341
Multiline Retail — 0.7%
Target Corp.		6,187		1,313,005
				1,313,005
Oil, Gas & Consumable Fuels — 3.8%
Cenovus Energy, Inc. (Canada)		113,485		1,891,795
ConocoPhillips		8,705		870,500
Exxon Mobil Corp.		36,813		3,040,386
Shell PLC (United Kingdom)		30,595		839,641
TotalEnergies SE (France)		2,755		139,785
				6,782,107
Personal Products — 0.2%
Olaplex Holdings, Inc.(1)		24,249		379,012
				379,012
Pharmaceuticals — 3.1%
4Front Ventures Corp.(1)		396,116		316,893
Bristol Myers Squibb Co.		5,990		437,450
Eli Lilly and Co.		3,327		952,753
Johnson & Johnson		9,848		1,745,361
Merck & Co., Inc.		10,487		860,458
Pfizer, Inc.		21,101		1,092,399
				5,405,314
Professional Services — 0.1%
Booz Allen Hamilton Holding Corp.		2,977		261,500
				261,500
Road & Rail — 2.1%
CSX Corp.		16,575		620,734
Union Pacific Corp.		11,428		3,122,244
				3,742,978
Semiconductors & Semiconductor Equipment — 3.8%
Advanced Micro Devices, Inc.(1)		20,771		2,271,101
NVIDIA Corp.		7,299		1,991,605
QUALCOMM, Inc.		16,330		2,495,551
				6,758,257
Software — 12.0%
Adobe, Inc.(1)		3,842		1,750,492
Intuit, Inc.		4,733		2,275,816
Microsoft Corp.		38,513		11,873,943
Oracle Corp.		32,244		2,667,546
salesforce.com, Inc.(1)		8,230		1,747,394
Unity Software, Inc.(1)		7,807		774,532
				21,089,723
Specialty Retail — 2.8%
Bath & Body Works, Inc.		3,817		182,452
Burlington Stores, Inc.(1)		969		176,523
CarMax, Inc.(1)		4,812		464,262
Home Depot, Inc.		10,260		3,071,126
O’Reilly Automotive, Inc.(1)		991		678,795
TJX Cos., Inc.		4,181		253,285
Warby Parker, Inc., Class A(1)		4,733		160,023
				4,986,466

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN DIVERSIFIED RESEARCH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Technology Hardware, Storage & Peripherals — 5.0%
Apple, Inc.		50,525	$	8,822,170
				8,822,170
Textiles, Apparel & Luxury Goods — 0.6%
Levi Strauss & Co., Class A		11,400		225,264
Lululemon Athletica, Inc.(1)		609		222,425
NIKE, Inc., Class B		4,431		596,235
				1,043,924
Tobacco — 0.2%
Altria Group, Inc.		6,883		359,637
				359,637
Trading Companies & Distributors — 0.4%
United Rentals, Inc.(1)		1,962		696,922
				696,922
Wireless Telecommunication Services — 1.4%
T-Mobile US, Inc.(1)		18,658		2,394,754
				2,394,754
Total Common Stocks (Cost $126,705,106)				171,975,925
Exchange–Traded Funds — 0.5%
SPDR S&P 500 ETF Trust		1,963		886,569
Total Exchange–Traded Funds (Cost $831,858)				886,569
	Principal Amount		Value
Short–Term Investment — 2.2%
Repurchase Agreements — 2.2%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $3,940,229, due 4/1/2022(4)	$	3,940,229		3,940,229
Total Repurchase Agreements (Cost $3,940,229)				3,940,229
Total Investments — 100.2% (Cost $131,477,193)				176,802,723
Liabilities in excess of other assets — (0.2)%				(301,501	)
Total Net Assets — 100.0%			$	176,501,222

(1) Non–income–producing security.

(2) The table below presents securities deemed illiquid by the investment adviser.

Security	Shares		Cost		Value		Acquisition Date		% of Fund’s Net Assets
GoGreen Investments Corp.		22,514	$	225,140	$	227,617		10/21/2021	0.13%

(3) Securities that may be resold in transactions exempt from registration under Rule 144A of the Securities Act of 1933, as amended, normally to certain qualified buyers. At March 31, 2022, the aggregate market value of these securities amounted to $705,108, representing 0.4% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Fund’s liquidity procedures approved by the Board of Trustees.

(4) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	3,573,000	$	4,019,144

Legend:

ADR – American Depositary Receipt

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN DIVERSIFIED RESEARCH VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs—
Investments in Securities (unaudited)	Level 1		Level 2			Level 3		Total
Common Stocks	$	167,703,480	$	4,272,445	*	$	—	$	171,975,925
Exchange–Traded Funds		886,569		—			—		886,569
Repurchase Agreements		—		3,940,229			—		3,940,229
Total	$	168,590,049	$	8,212,674		$	—	$	176,802,723

^*  Consists of certain foreign securities whose values were determined by a pricing service using pricing models (See Notes to Schedule of Investments). These investments in securities were classified as Level 2 rather than Level 1.

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN GROWTH & INCOME VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 97.5%
Aerospace & Defense — 6.0%
Curtiss-Wright Corp.		10,556	$	1,585,089
Hexcel Corp.		14,083		837,516
Raytheon Technologies Corp.		49,299		4,884,052
Textron, Inc.		44,885		3,338,546
				10,645,203
Air Freight & Logistics — 0.7%
Expeditors International of Washington, Inc.		12,721		1,312,298
				1,312,298
Auto Components — 1.3%
BorgWarner, Inc.		57,994		2,255,967
				2,255,967
Banks — 5.0%
JPMorgan Chase & Co.		22,006		2,999,858
Wells Fargo & Co.		123,075		5,964,214
				8,964,072
Biotechnology — 3.5%
Amgen, Inc.		19,212		4,645,846
Regeneron Pharmaceuticals, Inc.(1)		2,219		1,549,794
				6,195,640
Capital Markets — 4.1%
Goldman Sachs Group, Inc.		14,529		4,796,023
Northern Trust Corp.		21,527		2,506,819
				7,302,842
Chemicals — 0.5%
Mosaic Co.		14,526		965,979
				965,979
Communications Equipment — 4.1%
Ciena Corp.(1)		34,053		2,064,634
Cisco Systems, Inc.		58,349		3,253,540
F5, Inc.(1)		9,833		2,054,605
				7,372,779
Construction & Engineering — 1.0%
EMCOR Group, Inc.		15,379		1,732,137
				1,732,137
Consumer Finance — 0.8%
Capital One Financial Corp.		10,559		1,386,291
				1,386,291
Distributors — 1.5%
LKQ Corp.		59,708		2,711,340
				2,711,340
Diversified Financial Services — 3.9%
Berkshire Hathaway, Inc., Class B(1)		19,873		7,013,380
				7,013,380
Diversified Telecommunication Services — 3.1%
Verizon Communications, Inc.		107,123		5,456,846
				5,456,846
Electric Utilities — 0.8%
IDACORP, Inc.		12,567		1,449,729
				1,449,729

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN GROWTH & INCOME VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Electrical Equipment — 2.3%
Acuity Brands, Inc.		4,934	$	934,006
Emerson Electric Co.		31,392		3,077,986
				4,011,992
Electronic Equipment, Instruments & Components — 1.2%
Keysight Technologies, Inc.(1)		13,603		2,148,866
				2,148,866
Energy Equipment & Services — 1.0%
Helmerich & Payne, Inc.		42,568		1,821,059
				1,821,059
Equity Real Estate Investment Trusts (REITs) — 1.1%
Weyerhaeuser Co.		49,880		1,890,452
				1,890,452
Food & Staples Retailing — 2.5%
Walmart, Inc.		29,807		4,438,859
				4,438,859
Health Care Providers & Services — 5.6%
Anthem, Inc.		11,704		5,749,239
Cigna Corp.		13,103		3,139,610
Quest Diagnostics, Inc.		7,793		1,066,550
				9,955,399
Household Durables — 1.6%
D.R. Horton, Inc.		37,703		2,809,251
				2,809,251
Insurance — 2.7%
Aflac, Inc.		30,386		1,956,555
Allstate Corp.		21,110		2,923,946
				4,880,501
Internet & Direct Marketing Retail — 0.6%
eBay, Inc.		17,600		1,007,776
				1,007,776
IT Services — 5.4%
Cognizant Technology Solutions Corp., Class A		39,733		3,562,858
FleetCor Technologies, Inc.(1)		14,677		3,655,454
Maximus, Inc.		32,832		2,460,758
				9,679,070
Life Sciences Tools & Services — 2.2%
Bio-Rad Laboratories, Inc., Class A(1)		3,157		1,778,117
PerkinElmer, Inc.		11,992		2,092,124
				3,870,241
Machinery — 1.9%
Altra Industrial Motion Corp.		12,860		500,640
Middleby Corp.(1)		4,466		732,156
Westinghouse Air Brake Technologies Corp.		22,741		2,187,002
				3,419,798
Media — 3.4%
Comcast Corp., Class A		130,731		6,120,825
				6,120,825

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN GROWTH & INCOME VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Metals & Mining — 2.5%
BHP Group Ltd., ADR		27,910	$	2,156,048
Steel Dynamics, Inc.		26,733		2,230,334
				4,386,382
Multiline Retail — 2.2%
Target Corp.		18,420		3,909,092
				3,909,092
Oil, Gas & Consumable Fuels — 5.0%
Chevron Corp.		13,899		2,263,174
ConocoPhillips		28,217		2,821,700
EOG Resources, Inc.		23,732		2,829,566
Phillips 66		10,963		947,094
				8,861,534
Pharmaceuticals — 4.8%
Pfizer, Inc.		79,001		4,089,882
Roche Holding AG, ADR		89,350		4,414,783
				8,504,665
Professional Services — 2.4%
Leidos Holdings, Inc.		10,816		1,168,344
Robert Half International, Inc.		26,376		3,011,612
				4,179,956
Real Estate Management & Development — 2.5%
CBRE Group, Inc., Class A(1)		49,342		4,515,780
				4,515,780
Road & Rail — 1.6%
Knight-Swift Transportation Holdings, Inc.		57,587		2,905,840
				2,905,840
Semiconductors & Semiconductor Equipment — 0.8%
MKS Instruments, Inc.		9,327		1,399,050
				1,399,050
Specialty Retail — 3.7%
AutoZone, Inc.(1)		1,180		2,412,604
Lowe’s Cos., Inc.		5,641		1,140,554
Murphy USA, Inc.		6,354		1,270,546
Ulta Beauty, Inc.(1)		4,309		1,715,930
				6,539,634
Textiles, Apparel & Luxury Goods — 0.3%
Deckers Outdoor Corp.(1)		2,147		587,784
				587,784
Tobacco — 3.3%
Philip Morris International, Inc.		61,838		5,809,062
				5,809,062
Trading Companies & Distributors — 0.6%
MSC Industrial Direct Co., Inc., Class A		11,609		989,203
				989,203
Total Common Stocks (Cost $128,212,444)				173,406,574

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN GROWTH & INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Short–Term Investment — 2.4%
Repurchase Agreements — 2.4%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $4,246,352, due 4/1/2022(2)	$	4,246,352	$	4,246,352
Total Repurchase Agreements (Cost $4,246,352)				4,246,352
Total Investments — 99.9% (Cost $132,458,796)				177,652,926
Assets in excess of other liabilities — 0.1%				104,356
Total Net Assets — 100.0%			$	177,757,282

(1) Non–income–producing security.

(2) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	3,850,500	$	4,331,294

Legend:

ADR – American Depositary Receipt

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN GROWTH & INCOME VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2		Level 3		Total
Common Stocks	$	173,406,574	$	—	$	—	$	173,406,574
Repurchase Agreements		—		4,246,352		—		4,246,352
Total	$	173,406,574	$	4,246,352	$	—	$	177,652,926

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTEGRATED RESEARCH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 99.8%
Aerospace & Defense — 1.4%
Raytheon Technologies Corp.		39,935	$	3,956,360
				3,956,360
Air Freight & Logistics — 0.7%
FedEx Corp.		8,749		2,024,431
				2,024,431
Automobiles — 1.9%
Ford Motor Co.		125,995		2,130,576
Tesla, Inc.(1)		3,144		3,387,974
				5,518,550
Banks — 4.1%
Bank of America Corp.		140,211		5,779,497
JPMorgan Chase & Co.		42,178		5,749,705
				11,529,202
Beverages — 2.3%
Constellation Brands, Inc., Class A		16,093		3,706,540
Monster Beverage Corp.(1)		34,705		2,772,929
				6,479,469
Biotechnology — 2.7%
Regeneron Pharmaceuticals, Inc.(1)		4,675		3,265,113
Seagen, Inc.(1)		12,311		1,773,400
Vertex Pharmaceuticals, Inc.(1)		10,215		2,665,809
				7,704,322
Building Products — 1.7%
Fortune Brands Home & Security, Inc.		29,725		2,207,973
Johnson Controls International PLC		40,084		2,628,308
				4,836,281
Capital Markets — 2.6%
Charles Schwab Corp.		38,298		3,228,904
Morgan Stanley		47,690		4,168,106
				7,397,010
Chemicals — 2.0%
PPG Industries, Inc.		21,464		2,813,287
Sherwin-Williams Co.		11,971		2,988,201
				5,801,488
Commercial Services & Supplies — 0.5%
Copart, Inc.(1)		11,292		1,416,807
				1,416,807
Communications Equipment — 0.9%
F5, Inc.(1)		11,836		2,473,132
				2,473,132
Consumer Finance — 1.8%
American Express Co.		26,912		5,032,544
				5,032,544
Diversified Telecommunication Services — 1.1%
Verizon Communications, Inc.		63,904		3,255,270
				3,255,270

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTEGRATED RESEARCH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Electric Utilities — 1.7%
American Electric Power Co., Inc.		18,962	$	1,891,839
Duke Energy Corp.		27,579		3,079,471
				4,971,310
Electrical Equipment — 1.0%
AMETEK, Inc.		20,487		2,728,459
				2,728,459
Electronic Equipment, Instruments & Components — 1.7%
CDW Corp.		14,326		2,562,778
Corning, Inc.		57,822		2,134,210
				4,696,988
Entertainment — 2.5%
Netflix, Inc.(1)		7,586		2,841,640
Walt Disney Co.(1)		30,138		4,133,728
				6,975,368
Equity Real Estate Investment Trusts (REITs) — 1.8%
Gaming and Leisure Properties, Inc.		42,638		2,001,001
Prologis, Inc.		18,504		2,988,026
				4,989,027
Health Care Equipment & Supplies — 3.6%
Abbott Laboratories		20,905		2,474,316
Baxter International, Inc.		36,220		2,808,499
Becton Dickinson and Co.		9,934		2,642,444
Hologic, Inc.(1)		30,335		2,330,334
				10,255,593
Health Care Providers & Services — 2.6%
UnitedHealth Group, Inc.		14,306		7,295,631
				7,295,631
Hotels, Restaurants & Leisure — 3.1%
Airbnb, Inc., Class A(1)		14,752		2,533,804
Booking Holdings, Inc.(1)		1,297		3,045,940
McDonald’s Corp.		13,209		3,266,321
				8,846,065
Household Products — 3.0%
Colgate-Palmolive Co.		37,669		2,856,440
Procter & Gamble Co.		37,128		5,673,159
				8,529,599
Insurance — 2.0%
Chubb Ltd.		15,135		3,237,377
Progressive Corp.		21,456		2,445,769
				5,683,146
Interactive Media & Services — 7.0%
Alphabet, Inc., Class A(1)		4,746		13,200,287
Alphabet, Inc., Class C(1)		1,414		3,949,288
Meta Platforms, Inc., Class A(1)		11,715		2,604,947
				19,754,522
Internet & Direct Marketing Retail — 4.5%
Amazon.com, Inc.(1)		3,873		12,625,786
				12,625,786
IT Services — 3.8%
Fidelity National Information Services, Inc.		21,565		2,165,557
Global Payments, Inc.		13,901		1,902,213
GoDaddy, Inc., Class A(1)		27,380		2,291,706

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTEGRATED RESEARCH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
IT Services — (continued)
Mastercard, Inc., Class A		12,118	$	4,330,731
				10,690,207
Life Sciences Tools & Services — 2.7%
Danaher Corp.		11,890		3,487,694
Thermo Fisher Scientific, Inc.		6,854		4,048,315
				7,536,009
Machinery — 3.0%
Deere & Co.		8,937		3,712,966
Illinois Tool Works, Inc.		11,813		2,473,642
Nordson Corp.		9,876		2,242,642
				8,429,250
Oil, Gas & Consumable Fuels — 2.7%
EOG Resources, Inc.		29,952		3,571,177
Pioneer Natural Resources Co.		16,168		4,042,485
				7,613,662
Pharmaceuticals — 3.2%
Eli Lilly and Co.		17,188		4,922,127
Pfizer, Inc.		81,396		4,213,871
				9,135,998
Professional Services — 1.6%
Equifax, Inc.		10,343		2,452,325
Leidos Holdings, Inc.		18,766		2,027,104
				4,479,429
Semiconductors & Semiconductor Equipment — 6.8%
Advanced Micro Devices, Inc.(1)		28,329		3,097,493
KLA Corp.		9,276		3,395,573
Marvell Technology, Inc.		44,644		3,201,421
NVIDIA Corp.		7,926		2,162,688
QUALCOMM, Inc.		21,309		3,256,441
Texas Instruments, Inc.		22,745		4,173,253
				19,286,869
Software — 9.6%
Microsoft Corp.		60,131		18,538,989
Palo Alto Networks, Inc.(1)		4,033		2,510,583
salesforce.com, Inc.(1)		17,410		3,696,491
Workday, Inc., Class A(1)		10,622		2,543,544
				27,289,607
Specialty Retail — 1.3%
TJX Cos., Inc.		62,871		3,808,725
				3,808,725
Technology Hardware, Storage & Peripherals — 5.8%
Apple, Inc.		80,496		14,055,407
NetApp, Inc.		30,199		2,506,517
				16,561,924
Textiles, Apparel & Luxury Goods — 1.1%
NIKE, Inc., Class B		22,728		3,058,280
				3,058,280
Total Common Stocks (Cost $287,451,717)				282,666,320

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTEGRATED RESEARCH VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Short–Term Investment — 0.3%
Repurchase Agreements — 0.3%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $848,835, due 4/1/2022(2)	$	848,835	$	848,835
Total Repurchase Agreements (Cost $848,835)				848,835
Total Investments — 100.1% (Cost $288,300,552)				283,515,155
Liabilities in excess of other assets — (0.1)%				(232,159	)
Total Net Assets — 100.0%			$	283,282,996

(1) Non–income–producing security.

(2) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	769,800	$	865,921

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTEGRATED RESEARCH VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2		Level 3		Total
Common Stocks	$	282,666,320	$	—	$	—	$	282,666,320
Repurchase Agreements		—		848,835		—		848,835
Total	$	282,666,320	$	848,835	$	—	$	283,515,155

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTERNATIONAL GROWTH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 96.9%
Australia — 1.2%
IDP Education Ltd.		68,671	$	1,601,564
				1,601,564
Cayman Islands — 2.4%
Alibaba Group Holding Ltd.(1)		42,168		577,165
JD.com, Inc., Class A(1)		1,100		32,217
Sea Ltd., ADR(1)		11,621		1,392,079
Tencent Holdings Ltd.		25,000		1,179,385
				3,180,846
Denmark — 6.6%
Coloplast A/S, Class B		13,151		1,991,752
Genmab A/S(1)		4,316		1,563,519
Novo Nordisk A/S, Class B		46,402		5,138,867
				8,694,138
France — 12.8%
Capgemini SE		12,362		2,749,843
L’Oreal SA		8,864		3,547,956
LVMH Moet Hennessy Louis Vuitton SE		7,209		5,133,309
Safran SA		15,791		1,855,919
Schneider Electric SE		20,555		3,431,790
				16,718,817
Germany — 5.1%
adidas AG		10,191		2,379,765
Delivery Hero SE(1)(2)		23,155		1,019,942
Symrise AG		17,476		2,098,043
Zalando SE(1)(2)		22,548		1,144,563
				6,642,313
Hong Kong — 5.1%
AIA Group Ltd.		365,200		3,823,437
Hong Kong Exchanges & Clearing Ltd.		59,500		2,804,055
				6,627,492
India — 1.0%
HDFC Bank Ltd., ADR		21,756		1,334,295
				1,334,295
Ireland — 2.3%
Linde PLC		9,502		3,061,934
				3,061,934
Japan — 17.1%
Daikin Industries Ltd.		12,700		2,312,351
Hoya Corp.		22,400		2,556,102
Keyence Corp.		7,200		3,347,481
Kyowa Kirin Co. Ltd.		51,400		1,192,498
Makita Corp.		48,100		1,540,580
Shimano, Inc.		7,900		1,807,008
SMC Corp.		3,500		1,954,796
Sony Group Corp.		36,800		3,798,164
Sysmex Corp.		16,500		1,198,138
Tokyo Electron Ltd.		5,300		2,721,414
				22,428,532
Netherlands — 8.1%
Adyen NV(1)(2)		1,091		2,155,347
Argenx SE(1)		5,436		1,709,335
ASML Holding NV		10,047		6,701,343
				10,566,025

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTERNATIONAL GROWTH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Republic of Korea — 1.4%
Samsung Electronics Co. Ltd.		33,077	$	1,889,611
				1,889,611
Singapore — 2.0%
DBS Group Holdings Ltd.		97,200		2,555,421
				2,555,421
Sweden — 3.2%
Assa Abloy AB, Class B		69,940		1,885,828
Atlas Copco AB, Class A		43,269		2,245,596
				4,131,424
Switzerland — 13.9%
Lonza Group AG (Reg S)		3,903		2,827,658
Nestle SA (Reg S)		50,303		6,530,376
Partners Group Holding AG		1,260		1,565,383
Roche Holding AG		14,518		5,741,511
Straumann Holding AG (Reg S)		984		1,574,541
				18,239,469
Taiwan — 1.0%
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		12,186		1,270,512
				1,270,512
United Kingdom — 12.7%
Allfunds Group PLC(1)		82,869		946,044
Anglo American PLC		17,341		894,388
Diageo PLC		95,307		4,817,120
Ferguson PLC		14,674		1,991,848
Intertek Group PLC		27,211		1,858,249
London Stock Exchange Group PLC		20,156		2,105,812
Oxford Nanopore Technologies PLC(1)		171,310		887,411
RELX PLC		99,739		3,105,006
				16,605,878
United States — 1.0%
MercadoLibre, Inc.(1)		1,117		1,328,649
				1,328,649
Total Common Stocks (Cost $99,293,355)				126,876,920
Preferred Stocks — 0.9%
Germany — 0.9%
Sartorius AG, 0.35%		2,657		1,179,999
Total Preferred Stocks (Cost $912,112)				1,179,999
	Principal Amount		Value
Short–Term Investment — 2.0%
Repurchase Agreements — 2.0%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $2,601,626, due 4/1/2022(3)	$	2,601,626		2,601,626
Total Repurchase Agreements (Cost $2,601,626)				2,601,626

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTERNATIONAL GROWTH VIP FUND

March 31, 2022 (unaudited)	Value
Total Investments — 99.8% (Cost $102,807,093)	$	130,658,545
Assets in excess of other liabilities — 0.2%		293,861
Total Net Assets — 100.0%	$	130,952,406

(1) Non–income–producing security.

(2) Securities that may be resold in transactions exempt from registration under Rule 144A of the Securities Act of 1933, as amended, normally to certain qualified buyers. At March 31, 2022, the aggregate market value of these securities amounted to $4,319,852, representing 3.3% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Fund’s liquidity procedures approved by the Board of Trustees.

(3) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		4.25	%		11/15/2040	$	2,128,600	$	2,653,766

Legend:

ADR – American Depositary Receipt

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTERNATIONAL GROWTH VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2			Level 3		Total
Common Stocks
Australia	$	—	$	1,601,564	*	$	—	$	1,601,564
Cayman Islands		1,392,079		1,788,767	*		—		3,180,846
Denmark		—		8,694,138	*		—		8,694,138
France		—		16,718,817	*		—		16,718,817
Germany		—		6,642,313	*		—		6,642,313
Hong Kong		—		6,627,492	*		—		6,627,492
India		1,334,295		—			—		1,334,295
Ireland		—		3,061,934	*		—		3,061,934
Japan		—		22,428,532	*		—		22,428,532
Netherlands		—		10,566,025	*		—		10,566,025
Republic of Korea		—		1,889,611	*		—		1,889,611
Singapore		—		2,555,421	*		—		2,555,421
Sweden		—		4,131,424	*		—		4,131,424
Switzerland		—		18,239,469	*		—		18,239,469
Taiwan		1,270,512		—			—		1,270,512
United Kingdom		—		16,605,878	*		—		16,605,878
United States		1,328,649		—			—		1,328,649
Preferred Stocks
Germany		—		1,179,999	*		—		1,179,999
Repurchase Agreements		—		2,601,626			—		2,601,626
Total	$	5,325,535	$	125,333,010		$	—	$	130,658,545

* Consists of certain foreign securities whose values were determined by a pricing service using pricing models (See Notes to Schedule of Investments). These investments in securities were classified as Level 2 rather than Level 1.

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTERNATIONAL EQUITY VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 98.9%
Australia — 1.2%
Macquarie Group Ltd.		28,529	$	4,291,579
				4,291,579
Austria — 0.9%
Erste Group Bank AG		94,431		3,424,855
				3,424,855
Belgium — 2.1%
UCB SA		42,833		5,127,643
Umicore SA		56,701		2,449,321
				7,576,964
Brazil — 0.5%
B3 SA - Brasil Bolsa Balcao		540,066		1,782,052
				1,782,052
Canada — 2.6%
Canadian National Railway Co.		36,692		4,922,008
Toronto-Dominion Bank		60,790		4,823,229
				9,745,237
Cayman Islands — 1.6%
Alibaba Group Holding Ltd.(1)		188,700		2,582,790
JD.com, Inc., Class A(1)		2,050		60,040
Kingdee International Software Group Co. Ltd.(1)		647,000		1,427,751
Tencent Holdings Ltd.		42,000		1,981,366
				6,051,947
Denmark — 1.2%
Vestas Wind Systems A/S		144,283		4,259,974
				4,259,974
France — 3.8%
Amundi SA(2)		26,474		1,806,408
EssilorLuxottica SA		20,531		3,747,832
Legrand SA		26,845		2,552,073
Schneider Electric SE		34,880		5,823,441
				13,929,754
Germany — 8.2%
Bayerische Motoren Werke AG		41,567		3,600,296
Daimler Truck Holding AG(1)		69,442		1,929,171
Infineon Technologies AG		87,821		3,000,265
Knorr-Bremse AG		29,418		2,260,110
Mercedes-Benz Group AG		24,419		1,715,108
Merck KGaA		11,139		2,332,828
SAP SE		58,021		6,474,175
Siemens AG (Reg S)		45,419		6,293,357
Zalando SE(1)(2)		51,710		2,624,861
				30,230,171
Hong Kong — 4.2%
AIA Group Ltd.		623,800		6,530,832
BOC Hong Kong Holdings Ltd.		1,179,000		4,436,368
Hong Kong Exchanges & Clearing Ltd.		44,700		2,106,576
Techtronic Industries Co. Ltd.		145,000		2,335,919
				15,409,695
India — 0.7%
HDFC Bank Ltd., ADR		45,419		2,785,547
				2,785,547

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTERNATIONAL EQUITY VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Indonesia — 0.6%
Bank Central Asia Tbk PT		3,992,000	$	2,211,725
				2,211,725
Israel — 0.7%
Nice Ltd., ADR(1)		11,107		2,432,433
				2,432,433
Italy — 1.9%
FinecoBank Banca Fineco SpA		194,286		2,950,773
Intesa Sanpaolo SpA		1,845,850		4,219,074
				7,169,847
Japan — 18.4%
Bridgestone Corp.		125,100		4,841,551
Daifuku Co. Ltd.		29,900		2,135,977
Daikin Industries Ltd.		14,500		2,640,086
Disco Corp.		12,400		3,458,871
KDDI Corp.		89,800		2,949,598
Keyence Corp.		7,200		3,347,481
Kubota Corp.		134,600		2,523,478
MISUMI Group, Inc.		88,600		2,636,177
Mitsubishi UFJ Financial Group, Inc.		1,093,300		6,786,304
Murata Manufacturing Co. Ltd.		44,500		2,941,703
Nabtesco Corp.		94,800		2,511,199
Recruit Holdings Co. Ltd.		82,200		3,598,491
Sekisui Chemical Co. Ltd.		167,800		2,403,315
SMC Corp.		8,200		4,579,809
Sony Group Corp.		74,500		7,689,218
Terumo Corp.		102,100		3,092,175
Tokio Marine Holdings, Inc.		68,600		3,989,925
Toyota Motor Corp.		312,600		5,599,762
				67,725,120
Netherlands — 4.9%
Aalberts NV		54,945		2,839,736
Adyen NV(1)(2)		1,242		2,453,659
Akzo Nobel NV		29,890		2,568,034
ASML Holding NV		12,424		8,286,800
Stellantis NV		115,208		1,864,342
				18,012,571
Norway — 2.4%
DNB Bank ASA		99,712		2,257,521
Equinor ASA		173,683		6,517,133
				8,774,654
Republic of Korea — 1.9%
Osstem Implant Co. Ltd.(3)		26,226		2,007,007
Samsung Electronics Co. Ltd.		23,002		1,314,050
Samsung SDI Co. Ltd.		7,443		3,631,771
				6,952,828
Spain — 2.9%
Banco Bilbao Vizcaya Argentaria SA		469,295		2,683,320
Cellnex Telecom SA(2)		39,046		1,871,555
Iberdrola SA		576,238		6,271,976
				10,826,851
Sweden — 1.4%
Sandvik AB		104,746		2,223,800
Svenska Handelsbanken AB, Class A		306,109		2,817,173
				5,040,973

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTERNATIONAL EQUITY VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Switzerland — 9.6%
Alcon, Inc.		40,140	$	3,170,783
Chocoladefabriken Lindt & Spruengli AG		156		1,849,976
Cie Financiere Richemont SA (Reg S)		23,038		2,922,336
Lonza Group AG (Reg S)		4,249		3,078,329
Nestle SA (Reg S)		95,772		12,433,199
Roche Holding AG		24,377		9,640,502
Sika AG (Reg S)		6,261		2,062,729
				35,157,854
Taiwan — 1.1%
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		38,577		4,022,038
				4,022,038
United Kingdom — 23.6%
Antofagasta PLC		134,425		2,935,337
AstraZeneca PLC		69,228		9,180,406
Barclays PLC		798,392		1,550,964
Bunzl PLC		79,171		3,078,189
Burberry Group PLC		149,558		3,265,918
Diageo PLC		112,558		5,689,041
GlaxoSmithKline PLC		313,681		6,764,196
HSBC Holdings PLC		880,504		6,033,255
Kingfisher PLC		860,232		2,870,897
National Grid PLC		353,534		5,430,173
Ocado Group PLC(1)		40,442		618,185
Prudential PLC		183,298		2,707,636
Reckitt Benckiser Group PLC		87,592		6,695,269
RELX PLC		135,232		4,212,227
Shell PLC		417,975		11,513,126
Smith & Nephew PLC		186,261		2,968,925
Tesco PLC		609,992		2,205,328
Unilever PLC		76,212		3,450,096
Vodafone Group PLC		2,160,254		3,544,257
Whitbread PLC(1)		51,923		1,932,211
				86,645,636
United States — 2.5%
Booking Holdings, Inc.(1)		1,686		3,959,487
Lululemon Athletica, Inc.(1)		8,033		2,933,892
MercadoLibre, Inc.(1)		1,983		2,358,739
				9,252,118
Total Common Stocks (Cost $383,914,746)				363,712,423
	Principal Amount		Value
Short–Term Investment — 0.6%
Repurchase Agreements — 0.6%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $2,033,182, due 4/1/2022(4)	$	2,033,182		2,033,182
Total Repurchase Agreements (Cost $2,033,182)				2,033,182
Total Investments — 99.5% (Cost $385,947,928)				365,745,605
Assets in excess of other liabilities — 0.5%				1,995,081
Total Net Assets — 100.0%			$	367,740,686

(1) Non–income–producing security.

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTERNATIONAL EQUITY VIP FUND

(2) Securities that may be resold in transactions exempt from registration under Rule 144A of the Securities Act of 1933, as amended, normally to certain qualified buyers. At March 31, 2022, the aggregate market value of these securities amounted to $8,756,483, representing 2.4% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Fund’s liquidity procedures approved by the Board of Trustees.

(3) The table below presents securities deemed illiquid by the investment adviser.

Security	Shares		Cost		Value		Acquisition Date		% of Fund’s Net Assets
Osstem Implant Co. Ltd.		26,226	$	3,262,473	$	2,007,007		8/20/2021 – 10/25/2021		0.55	%

(4) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		4.25	%		11/15/2040	$	1,663,500	$	2,073,917

Legend:

ADR – American Depositary Receipt

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN INTERNATIONAL EQUITY VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2			Level 3		Total
Common Stocks
Australia	$	—	$	4,291,579	*	$	—	$	4,291,579
Austria		—		3,424,855	*		—		3,424,855
Belgium		—		7,576,964	*		—		7,576,964
Brazil		1,782,052		—			—		1,782,052
Canada		9,745,237		—			—		9,745,237
Cayman Islands		—		6,051,947	*		—		6,051,947
Denmark		—		4,259,974	*		—		4,259,974
France		—		13,929,754	*		—		13,929,754
Germany		—		30,230,171	*		—		30,230,171
Hong Kong		—		15,409,695	*		—		15,409,695
India		2,785,547		—			—		2,785,547
Indonesia		—		2,211,725	*		—		2,211,725
Israel		2,432,433		—			—		2,432,433
Italy		—		7,169,847	*		—		7,169,847
Japan		—		67,725,120	*		—		67,725,120
Netherlands		—		18,012,571	*		—		18,012,571
Norway		—		8,774,654	*		—		8,774,654
Republic of Korea		—		4,945,821	*		2,007,007		6,952,828
Spain		—		10,826,851	*		—		10,826,851
Sweden		—		5,040,973	*		—		5,040,973
Switzerland		—		35,157,854	*		—		35,157,854
Taiwan		4,022,038		—			—		4,022,038
United Kingdom		—		86,645,636	*		—		86,645,636
United States		9,252,118		—			—		9,252,118
Repurchase Agreements		—		2,033,182			—		2,033,182
Total	$	30,019,425	$	333,719,173		$	2,007,007	$	365,745,605

* Consists of certain foreign securities whose values were determined by a pricing service using pricing models (See Notes to Schedule of Investments). These investments in securities were classified as Level 2 rather than Level 1.

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP DISCIPLINED GROWTH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 99.8%
Aerospace & Defense — 1.1%
Raytheon Technologies Corp.		63,005	$	6,241,905
				6,241,905
Air Freight & Logistics — 0.6%
FedEx Corp.		14,822		3,429,663
				3,429,663
Automobiles — 2.8%
Tesla, Inc.(1)		14,933		16,091,801
				16,091,801
Beverages — 2.1%
Constellation Brands, Inc., Class A		26,461		6,094,498
Monster Beverage Corp.(1)		75,467		6,029,813
				12,124,311
Biotechnology — 2.8%
Regeneron Pharmaceuticals, Inc.(1)		9,403		6,567,243
Seagen, Inc.(1)		22,467		3,236,371
Vertex Pharmaceuticals, Inc.(1)		24,353		6,355,403
				16,159,017
Building Products — 2.3%
Builders FirstSource, Inc.(1)		59,469		3,838,129
Fortune Brands Home & Security, Inc.		51,423		3,819,700
Johnson Controls International PLC		81,429		5,339,300
				12,997,129
Capital Markets — 1.5%
Morgan Stanley		40,959		3,579,816
S&P Global, Inc.		12,083		4,956,205
				8,536,021
Chemicals — 1.0%
PPG Industries, Inc.		44,739		5,863,941
				5,863,941
Consumer Finance — 1.9%
American Express Co.		58,745		10,985,315
				10,985,315
Electronic Equipment, Instruments & Components — 0.8%
Cognex Corp.		59,539		4,593,434
				4,593,434
Entertainment — 3.1%
Netflix, Inc.(1)		23,335		8,741,057
Roku, Inc.(1)		24,977		3,128,869
Walt Disney Co.(1)		41,099		5,637,139
				17,507,065
Equity Real Estate Investment Trusts (REITs) — 0.9%
Prologis, Inc.		32,229		5,204,339
				5,204,339
Health Care Equipment & Supplies — 2.7%
Align Technology, Inc.(1)		9,286		4,048,696
Edwards Lifesciences Corp.(1)		49,550		5,833,026
Teleflex, Inc.		15,348		5,445,931
				15,327,653

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP DISCIPLINED GROWTH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Health Care Providers & Services — 1.9%
UnitedHealth Group, Inc.		21,340	$	10,882,760
				10,882,760
Hotels, Restaurants & Leisure — 4.4%
Airbnb, Inc., Class A(1)		39,761		6,829,349
Booking Holdings, Inc.(1)		3,565		8,372,224
Chipotle Mexican Grill, Inc.(1)		4,814		7,615,893
Penn National Gaming, Inc.(1)		58,160		2,467,147
				25,284,613
Interactive Media & Services — 7.4%
Alphabet, Inc., Class A(1)		10,089		28,061,040
Meta Platforms, Inc., Class A(1)		64,755		14,398,922
				42,459,962
Internet & Direct Marketing Retail — 6.8%
Amazon.com, Inc.(1)		11,107		36,208,265
Etsy, Inc.(1)		21,666		2,692,650
				38,900,915
IT Services — 5.1%
Block, Inc., Class A(1)		32,621		4,423,408
FleetCor Technologies, Inc.(1)		27,788		6,920,879
Global Payments, Inc.		31,269		4,278,850
Mastercard, Inc., Class A		38,158		13,636,906
				29,260,043
Life Sciences Tools & Services — 1.5%
Thermo Fisher Scientific, Inc.		14,219		8,398,452
				8,398,452
Machinery — 2.5%
Deere & Co.		22,973		9,544,363
Nordson Corp.		19,563		4,442,366
				13,986,729
Pharmaceuticals — 2.3%
Eli Lilly and Co.		45,973		13,165,288
				13,165,288
Professional Services — 0.9%
Equifax, Inc.		21,720		5,149,812
				5,149,812
Semiconductors & Semiconductor Equipment — 9.5%
Advanced Micro Devices, Inc.(1)		68,053		7,440,915
Entegris, Inc.		23,707		3,111,781
KLA Corp.		21,380		7,826,363
Marvell Technology, Inc.		85,790		6,152,001
MKS Instruments, Inc.		26,432		3,964,800
NVIDIA Corp.		45,937		12,534,370
Teradyne, Inc.		33,855		4,002,676
Texas Instruments, Inc.		48,681		8,931,990
				53,964,896
Software — 18.7%
Adobe, Inc.(1)		17,104		7,792,924
Avalara, Inc.(1)		35,501		3,532,704
Five9, Inc.(1)		35,668		3,937,747
Microsoft Corp.		166,671		51,386,336
Palo Alto Networks, Inc.(1)		13,331		8,298,681

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP DISCIPLINED GROWTH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Software — (continued)
Paycom Software, Inc.(1)		12,900	$	4,468,302
Qualtrics International, Inc., Class A(1)		94,392		2,694,892
salesforce.com, Inc.(1)		42,710		9,068,187
ServiceNow, Inc.(1)		13,793		7,681,184
Workday, Inc., Class A(1)		31,902		7,639,253
				106,500,210
Specialty Retail — 1.5%
TJX Cos., Inc.		142,303		8,620,716
				8,620,716
Technology Hardware, Storage & Peripherals — 11.0%
Apple, Inc.		327,182		57,129,249
NetApp, Inc.		70,826		5,878,558
				63,007,807
Textiles, Apparel & Luxury Goods — 2.7%
Lululemon Athletica, Inc.(1)		19,574		7,149,012
NIKE, Inc., Class B		62,019		8,345,277
				15,494,289
Total Common Stocks (Cost $404,421,385)				570,138,086
	Principal Amount		Value
Short–Term Investment — 0.3%
Repurchase Agreements — 0.3%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $1,600,230, due 4/1/2022(2)	$	1,600,230		1,600,230
Total Repurchase Agreements (Cost $1,600,230)				1,600,230
Total Investments — 100.1% (Cost $406,021,615)				571,738,316
Liabilities in excess of other assets — (0.1)%				(509,679	)
Total Net Assets — 100.0%			$	571,228,637

(1) Non–income–producing security.

(2) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	1,451,100	$	1,632,292

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP DISCIPLINED GROWTH VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2		Level 3		Total
Common Stocks	$	570,138,086	$	—	$	—	$	570,138,086
Repurchase Agreements		—		1,600,230		—		1,600,230
Total	$	570,138,086	$	1,600,230	$	—	$	571,738,316

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP DISCIPLINED VALUE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 98.7%
Aerospace & Defense — 2.7%
General Dynamics Corp.		13,042	$	3,145,469
Howmet Aerospace, Inc.		62,303		2,239,170
				5,384,639
Banks — 7.5%
Bank of America Corp.		77,563		3,197,147
JPMorgan Chase & Co.		36,618		4,991,766
Truist Financial Corp.		41,590		2,358,153
Wells Fargo & Co.		88,163		4,272,379
				14,819,445
Beverages — 2.4%
Coca-Cola Europacific Partners PLC		35,492		1,725,266
Keurig Dr Pepper, Inc.		77,725		2,945,778
				4,671,044
Biotechnology — 1.5%
AbbVie, Inc.		17,866		2,896,257
				2,896,257
Building Products — 0.8%
Allegion PLC		8,061		884,937
Owens Corning		8,404		768,966
				1,653,903
Capital Markets — 2.7%
Charles Schwab Corp.		36,095		3,043,169
Goldman Sachs Group, Inc.		6,646		2,193,845
				5,237,014
Chemicals — 2.3%
Axalta Coating Systems Ltd.(1)		55,117		1,354,776
DuPont de Nemours, Inc.		43,749		3,219,051
				4,573,827
Communications Equipment — 2.2%
Cisco Systems, Inc.		76,979		4,292,349
				4,292,349
Construction Materials — 0.4%
CRH PLC, ADR		20,485		820,629
				820,629
Consumer Finance — 1.2%
Capital One Financial Corp.		18,460		2,423,613
				2,423,613
Distributors — 0.7%
LKQ Corp.		30,926		1,404,350
				1,404,350
Diversified Financial Services — 3.4%
Berkshire Hathaway, Inc., Class B(1)		19,206		6,777,989
				6,777,989
Electrical Equipment — 1.3%
Eaton Corp. PLC		17,453		2,648,667
				2,648,667
Energy Equipment & Services — 1.2%
Schlumberger NV		59,012		2,437,786
				2,437,786

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP DISCIPLINED VALUE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Entertainment — 0.8%
Activision Blizzard, Inc.		19,693	$	1,577,606
				1,577,606
Food & Staples Retailing — 0.8%
US Foods Holding Corp.(1)		42,112		1,584,675
				1,584,675
Health Care Providers & Services — 9.7%
AmerisourceBergen Corp.		12,513		1,935,886
Centene Corp.(1)		39,658		3,338,807
Cigna Corp.		15,129		3,625,060
CVS Health Corp.		34,835		3,525,650
McKesson Corp.		6,277		1,921,578
UnitedHealth Group, Inc.		9,496		4,842,675
				19,189,656
Hotels, Restaurants & Leisure — 0.4%
Restaurant Brands International, Inc.		12,356		721,467
				721,467
Household Durables — 1.2%
Mohawk Industries, Inc.(1)		9,311		1,156,426
Sony Group Corp., ADR		11,937		1,226,050
				2,382,476
Household Products — 1.8%
Procter & Gamble Co.		22,996		3,513,789
				3,513,789
Insurance — 1.9%
Chubb Ltd.		11,084		2,370,868
Everest Re Group Ltd.		4,430		1,335,113
				3,705,981
Interactive Media & Services — 3.8%
Alphabet, Inc., Class A(1)		2,010		5,590,514
Meta Platforms, Inc., Class A(1)		8,151		1,812,456
				7,402,970
IT Services — 4.0%
Cognizant Technology Solutions Corp., Class A		18,276		1,638,809
Fidelity National Information Services, Inc.		27,095		2,720,880
FleetCor Technologies, Inc.(1)		6,485		1,615,154
Global Payments, Inc.		14,013		1,917,539
				7,892,382
Life Sciences Tools & Services — 1.8%
Avantor, Inc.(1)		56,571		1,913,231
ICON PLC(1)		6,947		1,689,650
				3,602,881
Machinery — 5.0%
Caterpillar, Inc.		7,291		1,624,581
Deere & Co.		7,069		2,936,887
Dover Corp.		6,741		1,057,663
Middleby Corp.(1)		5,875		963,147
Otis Worldwide Corp.		24,395		1,877,195
Westinghouse Air Brake Technologies Corp.		15,349		1,476,113
				9,935,586

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP DISCIPLINED VALUE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Multi-Utilities — 2.0%
CenterPoint Energy, Inc.		61,237	$	1,876,302
Dominion Energy, Inc.		25,393		2,157,643
				4,033,945
Multiline Retail — 0.4%
Kohl’s Corp.		13,042		788,519
				788,519
Oil, Gas & Consumable Fuels — 10.2%
Canadian Natural Resources Ltd.		46,698		2,894,342
Cenovus Energy, Inc.		69,984		1,167,333
ConocoPhillips		65,337		6,533,700
Devon Energy Corp.		17,356		1,026,260
EOG Resources, Inc.		15,207		1,813,131
Marathon Petroleum Corp.		38,996		3,334,158
Pioneer Natural Resources Co.		13,191		3,298,146
				20,067,070
Pharmaceuticals — 7.6%
Bristol Myers Squibb Co.		33,308		2,432,483
Johnson & Johnson		41,010		7,268,202
Novartis AG, ADR		19,977		1,752,982
Sanofi, ADR		69,123		3,548,775
				15,002,442
Professional Services — 0.7%
Leidos Holdings, Inc.		12,571		1,357,919
				1,357,919
Road & Rail — 2.0%
Canadian National Railway Co.		13,997		1,877,557
Union Pacific Corp.		7,341		2,005,635
				3,883,192
Semiconductors & Semiconductor Equipment — 7.0%
Applied Materials, Inc.		15,629		2,059,902
KLA Corp.		3,149		1,152,723
Lam Research Corp.		1,835		986,514
Microchip Technology, Inc.		13,378		1,005,223
Micron Technology, Inc.		38,390		2,990,197
NXP Semiconductors NV		3,618		669,620
Qorvo, Inc.(1)		12,161		1,509,180
QUALCOMM, Inc.		22,850		3,491,937
				13,865,296
Software — 1.5%
NortonLifeLock, Inc.		47,593		1,262,166
SS&C Technologies Holdings, Inc.		23,693		1,777,449
				3,039,615
Specialty Retail — 3.2%
AutoZone, Inc.(1)		2,374		4,853,833
TJX Cos., Inc.		24,391		1,477,607
				6,331,440
Technology Hardware, Storage & Peripherals — 0.4%
NetApp, Inc.		9,270		769,410
				769,410
Trading Companies & Distributors — 1.1%
United Rentals, Inc.(1)		6,229		2,212,603
				2,212,603

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP DISCIPLINED VALUE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Wireless Telecommunication Services — 1.1%
T-Mobile US, Inc.(1)		16,736	$	2,148,066
				2,148,066
Total Common Stocks (Cost $141,862,777)				195,050,498
	Principal Amount		Value
Short–Term Investment — 1.4%
Repurchase Agreements — 1.4%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $2,739,644, due 4/1/2022(2)	$	2,739,644		2,739,644
Total Repurchase Agreements (Cost $2,739,644)				2,739,644
Total Investments — 100.1% (Cost $144,602,421)				197,790,142
Liabilities in excess of other assets — (0.1)%				(104,834	)
Total Net Assets — 100.0%			$	197,685,308

(1) Non–income–producing security.

(2) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	2,484,300	$	2,794,503

Legend:

ADR – American Depositary Receipt

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP DISCIPLINED VALUE VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2		Level 3		Total
Common Stocks	$	195,050,498	$	—	$	—	$	195,050,498
Repurchase Agreements		—		2,739,644		—		2,739,644
Total	$	195,050,498	$	2,739,644	$	—	$	197,790,142

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP FUNDAMENTAL GROWTH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 98.3%
Aerospace & Defense — 2.0%
Raytheon Technologies Corp.		63,820	$	6,322,647
				6,322,647
Air Freight & Logistics — 2.7%
United Parcel Service, Inc., Class B		39,756		8,526,072
				8,526,072
Auto Components — 1.3%
Aptiv PLC(1)		34,774		4,162,796
				4,162,796
Beverages — 1.7%
Monster Beverage Corp.(1)		67,190		5,368,481
				5,368,481
Biotechnology — 0.2%
BioMarin Pharmaceutical, Inc.(1)		7,791		600,686
				600,686
Capital Markets — 2.0%
S&P Global, Inc.		15,923		6,531,296
				6,531,296
Electrical Equipment — 1.8%
Eaton Corp. PLC		37,740		5,727,422
				5,727,422
Entertainment — 4.6%
Netflix, Inc.(1)		19,100		7,154,669
Sea Ltd., ADR(1)		24,260		2,906,105
Walt Disney Co.(1)		34,219		4,693,478
				14,754,252
Equity Real Estate Investment Trusts (REITs) — 1.6%
Equinix, Inc.		6,727		4,988,878
				4,988,878
Health Care Equipment & Supplies — 5.0%
Alcon, Inc.		61,460		4,875,622
Dexcom, Inc.(1)		10,800		5,525,280
Intuitive Surgical, Inc.(1)		18,470		5,572,029
				15,972,931
Health Care Providers & Services — 4.1%
UnitedHealth Group, Inc.		25,447		12,977,207
				12,977,207
Interactive Media & Services — 4.3%
Meta Platforms, Inc., Class A(1)		61,513		13,678,031
				13,678,031
Internet & Direct Marketing Retail — 10.6%
Alibaba Group Holding Ltd., ADR(1)		27,586		3,001,357
Amazon.com, Inc.(1)		9,505		30,985,825
				33,987,182
IT Services — 7.0%
Fidelity National Information Services, Inc.		28,587		2,870,707
PayPal Holdings, Inc.(1)		44,000		5,088,600
Visa, Inc., Class A		64,187		14,234,751
				22,194,058

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP FUNDAMENTAL GROWTH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Life Sciences Tools & Services — 3.2%
Thermo Fisher Scientific, Inc.		17,132	$	10,119,016
				10,119,016
Pharmaceuticals — 2.7%
Zoetis, Inc.		45,521		8,584,805
				8,584,805
Road & Rail — 1.4%
Uber Technologies, Inc.(1)		128,882		4,598,510
				4,598,510
Semiconductors & Semiconductor Equipment — 7.4%
ASML Holding NV		6,200		4,141,166
Intel Corp.		62,900		3,117,324
NVIDIA Corp.		53,632		14,634,028
NXP Semiconductors NV		8,640		1,599,091
				23,491,609
Software — 22.1%
Adobe, Inc.(1)		17,360		7,909,563
Atlassian Corp. PLC, Class A(1)		19,490		5,726,747
Microsoft Corp.		62,004		19,116,453
Palo Alto Networks, Inc.(1)		19,394		12,072,959
salesforce.com, Inc.(1)		51,550		10,945,096
Splunk, Inc.(1)		37,881		5,629,495
UiPath, Inc., Class A(1)		50,659		1,093,728
Unity Software, Inc.(1)		27,200		2,698,512
Workday, Inc., Class A(1)		22,630		5,418,980
				70,611,533
Specialty Retail — 4.2%
Advance Auto Parts, Inc.		21,860		4,524,146
Tractor Supply Co.		22,720		5,302,166
Ulta Beauty, Inc.(1)		9,133		3,636,943
				13,463,255
Technology Hardware, Storage & Peripherals — 4.6%
Apple, Inc.		83,544		14,587,618
				14,587,618
Textiles, Apparel & Luxury Goods — 1.7%
NIKE, Inc., Class B		40,100		5,395,856
				5,395,856
Trading Companies & Distributors — 2.1%
WW Grainger, Inc.		13,179		6,797,596
				6,797,596
Total Common Stocks (Cost $216,916,375)				313,441,737
	Principal Amount		Value
Short–Term Investment — 1.8%
Repurchase Agreements — 1.8%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $5,747,995, due 4/1/2022(2)	$	5,747,995		5,747,995
Total Repurchase Agreements (Cost $5,747,995)				5,747,995

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP FUNDAMENTAL GROWTH VIP FUND

March 31, 2022 (unaudited)	Value
Total Investments — 100.1% (Cost $222,664,370)	$	319,189,732
Liabilities in excess of other assets — (0.1)%		(443,405	)
Total Net Assets — 100.0%	$	318,746,327

(1) Non–income–producing security.

(2) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	5,212,200	$	5,863,023

Legend:

ADR – American Depositary Receipt

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN LARGE CAP FUNDAMENTAL GROWTH VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2		Level 3		Total
Common Stocks	$	313,441,737	$	—	$	—	$	313,441,737
Repurchase Agreements		—		5,747,995		—		5,747,995
Total	$	313,441,737	$	5,747,995	$	—	$	319,189,732

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MID CAP TRADITIONAL GROWTH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 96.8%
Aerospace & Defense — 1.8%
L3Harris Technologies, Inc.		8,272	$	2,055,344
				2,055,344
Airlines — 0.9%
Ryanair Holdings PLC, ADR(1)		12,247		1,066,959
				1,066,959
Auto Components — 0.6%
Visteon Corp.(1)		5,696		621,604
				621,604
Banks — 0.6%
SVB Financial Group(1)		1,161		649,521
				649,521
Biotechnology — 2.4%
Abcam PLC, ADR(1)		15,966		292,018
Ascendis Pharma A/S, ADR(1)		4,261		500,071
BioMarin Pharmaceutical, Inc.(1)		8,707		671,310
Neurocrine Biosciences, Inc.(1)		8,426		789,937
Sarepta Therapeutics, Inc.(1)		6,091		475,829
				2,729,165
Capital Markets — 5.9%
Cboe Global Markets, Inc.		8,150		932,523
Charles Schwab Corp.		5,539		466,993
LPL Financial Holdings, Inc.		25,523		4,662,542
MSCI, Inc.		1,093		549,648
				6,611,706
Commercial Services & Supplies — 2.0%
Cimpress PLC(1)		12,024		764,606
Ritchie Bros Auctioneers, Inc.		26,023		1,536,138
				2,300,744
Containers & Packaging — 1.3%
Sealed Air Corp.		21,804		1,459,996
				1,459,996
Diversified Consumer Services — 1.4%
Frontdoor, Inc.(1)		18,744		559,508
Terminix Global Holdings, Inc.(1)		22,320		1,018,462
				1,577,970
Electric Utilities — 1.7%
Alliant Energy Corp.		31,368		1,959,873
				1,959,873
Electrical Equipment — 3.0%
Regal Rexnord Corp.		4,391		653,293
Sensata Technologies Holding PLC(1)		54,098		2,750,883
				3,404,176
Electronic Equipment, Instruments & Components — 7.4%
Flex Ltd.(1)		103,103		1,912,561
National Instruments Corp.		33,906		1,376,244
TE Connectivity Ltd.		23,148		3,031,925
Teledyne Technologies, Inc.(1)		4,214		1,991,663
				8,312,393

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MID CAP TRADITIONAL GROWTH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Entertainment — 1.7%
Liberty Media Corp-Liberty Formula One, Class C(1)		27,107	$	1,893,153
				1,893,153
Equity Real Estate Investment Trusts (REITs) — 1.6%
Lamar Advertising Co., Class A		15,947		1,852,722
				1,852,722
Health Care Equipment & Supplies — 8.0%
Boston Scientific Corp.(1)		66,989		2,966,943
Cooper Cos., Inc.		3,334		1,392,245
Dentsply Sirona, Inc.		21,156		1,041,298
ICU Medical, Inc.(1)		6,461		1,438,477
Teleflex, Inc.		6,169		2,188,946
				9,027,909
Hotels, Restaurants & Leisure — 1.8%
Aramark		30,417		1,143,679
Entain PLC (United Kingdom)(1)		42,618		914,092
				2,057,771
Insurance — 7.0%
Aon PLC, Class A		3,201		1,042,342
Intact Financial Corp. (Canada)		18,605		2,749,043
Ryan Specialty Group Holdings, Inc., Class A(1)		27,482		1,066,027
WR Berkley Corp.		44,676		2,974,941
				7,832,353
Interactive Media & Services — 0.6%
Ziff Davis, Inc.(1)		6,812		659,265
				659,265
Internet & Direct Marketing Retail — 0.6%
Wayfair, Inc., Class A(1)		5,825		645,293
				645,293
IT Services — 11.2%
Amdocs Ltd.		27,686		2,276,066
Broadridge Financial Solutions, Inc.		11,223		1,747,533
Fidelity National Information Services, Inc.		13,880		1,393,830
Global Payments, Inc.		10,244		1,401,789
GoDaddy, Inc., Class A(1)		31,101		2,603,154
WEX, Inc.(1)		15,073		2,689,777
Wix.com Ltd.(1)		4,775		498,796
				12,610,945
Life Sciences Tools & Services — 3.4%
Avantor, Inc.(1)		22,313		754,626
Illumina, Inc.(1)		2,255		787,897
PerkinElmer, Inc.		8,896		1,551,996
Waters Corp.(1)		2,302		714,518
				3,809,037
Machinery — 2.4%
Ingersoll Rand, Inc.		27,884		1,403,960
Westinghouse Air Brake Technologies Corp.		13,548		1,302,911
				2,706,871
Multiline Retail — 0.4%
Dollar Tree, Inc.(1)		2,500		400,375
				400,375

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MID CAP TRADITIONAL GROWTH VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Pharmaceuticals — 2.3%
Catalent, Inc.(1)		15,059	$	1,670,043
Elanco Animal Health, Inc.(1)		34,442		898,592
				2,568,635
Professional Services — 0.2%
Upwork, Inc.(1)		10,209		237,257
				237,257
Real Estate Management & Development — 0.2%
Redfin Corp.(1)		14,432		260,353
				260,353
Road & Rail — 2.6%
JB Hunt Transport Services, Inc.		14,606		2,932,739
				2,932,739
Semiconductors & Semiconductor Equipment — 8.2%
KLA Corp.		6,489		2,375,364
Lam Research Corp.		1,538		826,844
Microchip Technology, Inc.		21,331		1,602,811
NXP Semiconductors NV		5,514		1,020,531
ON Semiconductor Corp.(1)		54,144		3,389,956
				9,215,506
Software — 10.5%
Atlassian Corp. PLC, Class A(1)		2,168		637,023
Ceridian HCM Holding, Inc.(1)		19,424		1,327,825
Constellation Software, Inc. (Canada)		1,907		3,259,816
Dolby Laboratories, Inc., Class A		7,912		618,877
Dynatrace, Inc.(1)		14,651		690,062
Nice Ltd., ADR(1)		6,991		1,531,029
SS&C Technologies Holdings, Inc.		46,391		3,480,253
Topicus.com, Inc. (Canada)(1)		3,713		276,956
				11,821,841
Specialty Retail — 2.3%
Burlington Stores, Inc.(1)		3,826		696,983
CarMax, Inc.(1)		19,167		1,849,232
				2,546,215
Textiles, Apparel & Luxury Goods — 1.4%
Gildan Activewear, Inc.		43,539		1,631,842
				1,631,842
Trading Companies & Distributors — 1.4%
Ferguson PLC (United Kingdom)		11,422		1,550,422
				1,550,422
Total Common Stocks (Cost $79,793,212)				109,009,955
	Principal Amount		Value
Short–Term Investment — 2.9%
Repurchase Agreements — 2.9%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $3,336,201, due 4/1/2022(2)	$	3,336,201		3,336,201
Total Repurchase Agreements (Cost $3,336,201)				3,336,201

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MID CAP TRADITIONAL GROWTH VIP FUND

March 31, 2022 (unaudited)	Value
Total Investments — 99.7% (Cost $83,129,413)	$	112,346,156
Assets in excess of other liabilities — 0.3%		298,413
Total Net Assets — 100.0%	$	112,644,569

(1) Non–income–producing security.

(2) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	3,025,200	$	3,402,943

Legend:

ADR – American Depositary Receipt

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MID CAP TRADITIONAL GROWTH VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2			Level 3		Total
Common Stocks	$	106,545,441	$	2,464,514	*	$	—	$	109,009,955
Repurchase Agreements		—		3,336,201			—		3,336,201
Total	$	106,545,441	$	5,800,715		$	—	$	112,346,156

* Consists of certain foreign securities whose values were determined by a pricing service using pricing models (See Notes to Schedule of Investments). These investments in securities were classified as Level 2 rather than Level 1.

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MID CAP RELATIVE VALUE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 96.0%
Auto Components — 2.9%
Aptiv PLC(1)		17,739	$	2,123,536
Lear Corp.		28,493		4,062,817
				6,186,353
Banks — 4.3%
Fifth Third Bancorp		90,320		3,887,373
PacWest Bancorp		29,301		1,263,752
Regions Financial Corp.		137,454		3,059,726
Zions Bancorporation NA		15,638		1,025,227
				9,236,078
Beverages — 2.4%
Keurig Dr Pepper, Inc.		139,811		5,298,837
				5,298,837
Building Products — 5.2%
Builders FirstSource, Inc.(1)		40,917		2,640,783
Carlisle Cos., Inc.		34,662		8,524,079
				11,164,862
Capital Markets — 0.8%
LPL Financial Holdings, Inc.		9,300		1,698,924
				1,698,924
Chemicals — 1.7%
Celanese Corp.		13,677		1,954,033
FMC Corp.		13,032		1,714,620
				3,668,653
Commercial Services & Supplies — 3.1%
Republic Services, Inc.		51,038		6,762,535
				6,762,535
Communications Equipment — 1.0%
Juniper Networks, Inc.		58,188		2,162,266
				2,162,266
Construction & Engineering — 2.3%
API Group Corp.(1)		51,997		1,093,497
MasTec, Inc.(1)		44,104		3,841,458
				4,934,955
Construction Materials — 1.0%
Vulcan Materials Co.		12,139		2,229,934
				2,229,934
Consumer Finance — 1.5%
Discover Financial Services		28,986		3,193,967
				3,193,967
Containers & Packaging — 0.8%
AptarGroup, Inc.		13,980		1,642,650
				1,642,650
Distributors — 2.7%
LKQ Corp.		126,363		5,738,144
				5,738,144
Diversified Financial Services — 1.2%
Pershing Square Tontine Holdings Ltd., Class A(1)		135,748		2,700,028
				2,700,028

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MID CAP RELATIVE VALUE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Electric Utilities — 5.0%
American Electric Power Co., Inc.		55,110	$	5,498,325
FirstEnergy Corp.		114,354		5,244,274
				10,742,599
Energy Equipment & Services — 1.2%
Baker Hughes Co.		27,745		1,010,196
NOV, Inc.		79,410		1,557,230
				2,567,426
Equity Real Estate Investment Trusts (REITs) — 2.9%
American Campus Communities, Inc.		56,691		3,172,995
Gaming and Leisure Properties, Inc.		63,760		2,992,257
				6,165,252
Health Care Equipment & Supplies — 3.8%
Alcon, Inc.		60,088		4,766,781
Zimmer Biomet Holdings, Inc.		26,342		3,369,142
				8,135,923
Health Care Providers & Services — 3.9%
Humana, Inc.		11,101		4,830,822
Universal Health Services, Inc., Class B		24,272		3,518,227
				8,349,049
Hotels, Restaurants & Leisure — 1.2%
Wendy’s Co.		9,690		212,889
Yum China Holdings, Inc.		56,029		2,327,445
				2,540,334
Household Durables — 2.7%
D.R. Horton, Inc.		66,314		4,941,056
Helen of Troy Ltd.(1)		4,701		920,644
				5,861,700
Household Products — 4.3%
Church & Dwight Co., Inc.		39,395		3,915,075
Reynolds Consumer Products, Inc.		184,092		5,401,259
				9,316,334
Insurance — 9.5%
Allstate Corp.		24,722		3,424,244
Arch Capital Group Ltd.(1)		145,363		7,038,477
Axis Capital Holdings Ltd.		7,340		443,850
Brown & Brown, Inc.		89,426		6,462,817
Loews Corp.		48,232		3,126,398
				20,495,786
IT Services — 4.8%
Amdocs Ltd.		75,199		6,182,110
Euronet Worldwide, Inc.(1)		31,905		4,152,436
				10,334,546
Machinery — 4.5%
Donaldson Co., Inc.		55,234		2,868,302
Gates Industrial Corp. PLC(1)		141,634		2,133,008
Stanley Black & Decker, Inc.		33,552		4,690,234
				9,691,544
Metals & Mining — 1.5%
Freeport-McMoRan, Inc.		65,965		3,281,099
				3,281,099

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MID CAP RELATIVE VALUE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Mortgage Real Estate Investment Trusts (REITs) — 1.9%
Annaly Capital Management, Inc.		583,552	$	4,108,206
				4,108,206
Oil, Gas & Consumable Fuels — 5.0%
Devon Energy Corp.		37,450		2,214,418
EOG Resources, Inc.		35,684		4,254,603
Valero Energy Corp.		43,703		4,437,603
				10,906,624
Professional Services — 2.7%
Dun & Bradstreet Holdings, Inc.(1)		70,440		1,234,109
Jacobs Engineering Group, Inc.		33,831		4,662,250
				5,896,359
Real Estate Management & Development — 2.7%
CBRE Group, Inc., Class A(1)		63,145		5,779,030
				5,779,030
Software — 1.7%
NCR Corp.(1)		90,073		3,620,034
				3,620,034
Specialty Retail — 1.1%
Best Buy Co., Inc.		26,611		2,418,940
				2,418,940
Trading Companies & Distributors — 2.7%
AerCap Holdings NV(1)		117,158		5,890,704
				5,890,704
Water Utilities — 2.0%
American Water Works Co., Inc.		26,483		4,383,731
				4,383,731
Total Common Stocks (Cost $151,204,890)				207,103,406
Exchange–Traded Funds — 1.2%
SPDR S&P Oil & Gas Exploration & Production ETF		19,875		2,674,181
Total Exchange–Traded Funds (Cost $1,144,694)				2,674,181
Warrants — 0.0%
Liberty Media Acquisition Corp., Class A(1)		7,895		5,290
Pershing Square Tontine Holdings Ltd., Class A(1)		17,930		16,854
Total Warrants (Cost $118,884)				22,144
	Principal Amount		Value
Short–Term Investment — 2.9%
Repurchase Agreements — 2.9%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $6,175,863, due 4/1/2022(2)	$	6,175,863		6,175,863
Total Repurchase Agreements (Cost $6,175,863)				6,175,863

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MID CAP RELATIVE VALUE VIP FUND

March 31, 2022 (unaudited)	Value
Total Investments — 100.1% (Cost $158,644,331)	$	215,975,594
Liabilities in excess of other assets — (0.1)%		(186,132	)
Total Net Assets — 100.0%	$	215,789,462

(1) Non–income–producing security.

(2) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	5,600,200	$	6,299,471

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MID CAP RELATIVE VALUE VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2		Level 3		Total
Common Stocks	$	207,103,406	$	—	$	—	$	207,103,406
Exchange–Traded Funds		2,674,181		—		—		2,674,181
Warrants		—		22,144		—		22,144
Repurchase Agreements		—		6,175,863		—		6,175,863
Total	$	209,777,587	$	6,198,007	$	—	$	215,975,594

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Agency Mortgage–Backed Securities — 8.7%
Government National Mortgage Association
3.50% due 5/19/2052(1)	$	3,050,000	$	3,057,148
Uniform Mortgage-Backed Security
3.00% due 5/12/2052(1)		7,580,000		7,348,751
3.50% due 5/1/2052(1)		16,267,000		16,229,440
Total Agency Mortgage–Backed Securities (Cost $26,577,436)				26,635,339
Asset–Backed Securities — 18.8%
AMMC CLO 23 Ltd.
2020-23A CR
2.241% (LIBOR 3 Month + 2.00%) due 10/17/2031(2)(3)		540,000		529,308
Apidos CLO XXXV
2021-35A A
1.304% (LIBOR 3 Month + 1.05%) due 4/20/2034(2)(3)		400,000		394,759
Arbor Realty Commercial Real Estate Ltd.
2021-FL2 D
2.897% (LIBOR 1 Month + 2.50%) due 5/15/2036(2)(3)		700,000		686,874
2021-FL2 E
3.347% (LIBOR 1 Month + 2.95%) due 5/15/2036(2)(3)		170,000		165,851
2021-FL3 D
2.597% (LIBOR 1 Month + 2.20%) due 8/15/2034(2)(3)		1,030,000		1,001,954
Avid Automobile Receivables Trust
2019-1 B
2.82% due 7/15/2026(2)		305,645		306,063
2019-1 D
4.03% due 7/15/2026(2)		2,290,000		2,287,827
2021-1 E
3.39% due 4/17/2028(2)		830,000		755,288
Avis Budget Rental Car Funding AESOP LLC
2019-3A A
2.36% due 3/20/2026(2)		1,545,000		1,502,177
2020-2A A
2.02% due 2/20/2027(2)		1,750,000		1,659,004
Bain Capital Credit CLO
2019-2A AR
1.341% (LIBOR 3 Month + 1.10%) due 10/17/2032(2)(3)		880,000		877,594
Barings CLO Ltd.
2018-3A D
3.154% (LIBOR 3 Month + 2.90%) due 7/20/2029(2)(3)		250,000		242,050
2019-3A BR
1.854% (LIBOR 3 Month + 1.60%) due 4/20/2031(2)(3)		540,000		537,066
Carlyle Global Market Strategies CLO Ltd.
2015-5A BRR
2.554% (LIBOR 3 Month + 2.30%) due 1/20/2032(2)(3)		410,000		407,619
Carlyle U.S. CLO Ltd.
2021-1A A1
1.381% (LIBOR 3 Month + 1.14%) due 4/15/2034(2)(3)		1,400,000		1,394,849
CarMax Auto Owner Trust
2021-1 A2A
0.22% due 2/15/2024		677,158		676,156

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Asset–Backed Securities — (continued)
CBAM Ltd.
2017-1A D
4.004% (LIBOR 3 Month + 3.75%) due 7/20/2030(2)(3)	$	530,000	$	526,078
CIFC Funding Ltd.
2021-1A A1
1.368% (LIBOR 3 Month + 1.11%) due 4/25/2033(2)(3)		1,330,000		1,321,366
2021-4A A
1.291% (LIBOR 3 Month + 1.05%) due 7/15/2033(2)(3)		1,000,000		988,150
CPS Auto Receivables Trust
2018-B D
4.26% due 3/15/2024(2)		255,164		256,270
2020-C C
1.71% due 8/17/2026(2)		410,000		409,021
Drive Auto Receivables Trust
2020-2 C
2.28% due 8/17/2026		1,975,000		1,974,092
Dryden 58 CLO Ltd.
2018-58A B
1.741% (LIBOR 3 Month + 1.50%) due 7/17/2031(2)(3)		1,400,000		1,393,025
Dryden Senior Loan Fund
2017-47A BR
1.711% (LIBOR 3 Month + 1.47%) due 4/15/2028(2)(3)		1,010,000		1,006,245
Exeter Automobile Receivables Trust
2020-2A E
7.19% due 9/15/2027(2)		1,100,000		1,144,012
First Investors Auto Owner Trust
2021-1A E
3.35% due 4/15/2027(2)		600,000		582,280
Flagship Credit Auto Trust
2018-3 E
5.28% due 12/15/2025(2)		725,000		733,478
2020-2 A
1.49% due 7/15/2024(2)		14,761		14,760
2021-1 A
0.31% due 6/16/2025(2)		365,959		363,389
Ford Credit Auto Lease Trust
2021-A A2
0.19% due 7/15/2023		659,412		658,565
Ford Credit Floorplan Master Owner Trust
2018-4 A
4.06% due 11/15/2030		146,000		151,331
GM Financial Consumer Automobile Receivables Trust
2022-1 C
1.94% due 4/17/2028		830,000		788,282
GM Financial Revolving Receivables Trust
2021-1 C
1.67% due 6/12/2034(2)		955,000		872,978
Hertz Vehicle Financing III LP
2021-2A A
1.68% due 12/27/2027(2)		1,165,000		1,070,205
HGI CRE CLO Ltd.
2021-FL1 C
2.131% (LIBOR 1 Month + 1.70%) due 6/16/2036(2)(3)		550,000		542,594

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Asset–Backed Securities — (continued)
2021-FL1 D
2.781% (LIBOR 1 Month + 2.35%) due 6/16/2036(2)(3)	$	500,000	$	492,201
Invesco CLO Ltd.
2021-3A B
1.769% (LIBOR 3 Month + 1.65%) due 10/22/2034(2)(3)		320,000		319,002
KKR CLO 30 Ltd.
30A CR
2.241% (LIBOR 3 Month + 2.00%) due 10/17/2031(2)(3)		310,000		307,746
Lending Funding Trust
2020-2A A
2.32% due 4/21/2031(2)		936,000		874,676
Lendmark Funding Trust
2021-1A A
1.90% due 11/20/2031(2)		750,000		681,883
2021-2A C
3.09% due 4/20/2032(2)		450,000		402,751
LoanCore Issuer Ltd.
2022-CRE7 A
1.60% (SOFR30A + 1.55%) due 1/17/2037(2)(3)		680,000		675,400
Logan CLO I Ltd.
2021-1A A
1.414% (LIBOR 3 Month + 1.16%) due 7/20/2034(2)(3)		530,000		529,322
Marble Point CLO XVII Ltd.
2020-1A A
1.554% (LIBOR 3 Month + 1.30%) due 4/20/2033(2)(3)		613,030		612,917
Mariner Finance Issuance Trust
2021-BA D
3.42% due 11/20/2036(2)		555,000		507,689
Marlette Funding Trust
2020-2A D
4.65% due 9/16/2030(2)		1,060,000		1,069,357
Master Credit Card Trust II
2018-1A A
0.939% (LIBOR 1 Month + 0.49%) due 7/21/2024(2)(3)		100,000		99,984
ME Funding LLC
2019-1 A2
6.448% due 7/30/2049(2)		1,096,755		1,120,483
Mercedes-Benz Auto Lease Trust
2021-A A2
0.18% due 3/15/2023		362,315		362,066
Mountain View CLO LLC
2017-1A AR
1.331% (LIBOR 3 Month + 1.09%) due 10/16/2029(2)(3)		547,436		544,371
Nelnet Student Loan Trust
2021-DA B
2.90% due 4/20/2062(2)		570,000		526,578
Neuberger Berman Loan Advisers CLO 35 Ltd.
2019-35A A1
1.588% (LIBOR 3 Month + 1.34%) due 1/19/2033(2)(3)		1,000,000		997,806
Newark BSL CLO 1 Ltd.
2016-1A CR
3.268% (LIBOR 3 Month + 3.00%) due 12/21/2029(2)(3)		360,000		358,342

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Asset–Backed Securities — (continued)
NextGear Floorplan Master Owner Trust
2019-2A A1
1.097% (LIBOR 1 Month + 0.70%) due 10/15/2024(2)(3)	$	950,000	$	949,813
2020-1A A1
1.197% (LIBOR 1 Month + 0.80%) due 2/15/2025(2)(3)		2,450,000		2,455,698
Oaktree CLO Ltd.
2019-4A CR
2.504% (LIBOR 3 Month + 2.25%) due 10/20/2032(2)(3)		570,000		566,524
OCP CLO Ltd.
2019-16A AR
1.231% (LIBOR 3 Month + 1.00%) due 4/10/2033(2)(3)		790,000		782,748
OneMain Financial Issuance Trust
2019-2A A
3.14% due 10/14/2036(2)		1,416,000		1,398,524
Pennsylvania Higher Education Assistance Agency
2006-1 B
0.528% (LIBOR 3 Month + 0.27%) due 4/25/2038(3)		22,339		21,869
Planet Fitness Master Issuer LLC
2019-1A A2
3.858% due 12/5/2049(2)		260,015		245,004
Race Point IX CLO Ltd.
2015-9A CR
3.441% (LIBOR 3 Month + 3.20%) due 10/15/2030(2)(3)		250,000		239,900
Santander Consumer Auto Receivables Trust
2020-BA D
2.14% due 12/15/2026(2)		1,475,000		1,442,785
Santander Drive Auto Receivables Trust
2020-2 D
2.22% due 9/15/2026		816,000		809,957
2021-1 C
0.75% due 2/17/2026		1,850,000		1,814,654
SCF Equipment Leasing LLC
2019-2A B
2.76% due 8/20/2026(2)		797,000		783,695
2021-1A C
1.54% due 10/21/2030(2)		1,000,000		926,419
2021-1A D
1.93% due 9/20/2030(2)		750,000		676,589
SEB Funding LLC
2021-1A A2
4.969% due 1/30/2052(2)		815,000		773,667
Signal Peak CLO 8 Ltd.
2020-8A A
1.524% (LIBOR 3 Month + 1.27%) due 4/20/2033(2)(3)		1,003,948		996,820
SLC Student Loan Trust
2008-1 A4A
2.426% (LIBOR 3 Month + 1.60%) due 12/15/2032(3)		105,834		107,111
Sunrun Demeter Issuer LLC
2021-2A A
2.27% due 1/30/2057(2)		496,327		450,352
Towd Point Asset Trust
2018-SL1 A
1.057% (LIBOR 1 Month + 0.60%) due 1/25/2046(2)(3)		198,579		198,071

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Asset–Backed Securities — (continued)
Toyota Auto Receivables Owner Trust
2021-A A2
0.16% due 7/17/2023	$	870,173	$	869,049
Westlake Automobile Receivables Trust
2020-2A A2A
0.93% due 2/15/2024(2)		153,165		153,090
2020-3A E
3.34% due 6/15/2026(2)		750,000		736,277
Wind River CLO Ltd.
2021-4A B
1.866% (LIBOR 3 Month + 1.65%) due 1/20/2035(2)(3)		510,000		506,372
World Omni Auto Receivables Trust
2021-A A2
0.17% due 2/15/2024		719,685		718,394
Total Asset–Backed Securities (Cost $59,025,864)				57,326,516
Corporate Bonds & Notes — 35.8%
Aerospace & Defense — 0.1%
TransDigm, Inc.
6.375% due 6/15/2026		334,000		337,116
				337,116
Agriculture — 0.1%
MHP Lux SA
6.25% due 9/19/2029(2)(4)		475,000		225,483
				225,483
Airlines — 0.9%
Air Canada
3.875% due 8/15/2026(2)		353,000		333,589
American Airlines, Inc.
11.75% due 7/15/2025(2)		469,000		547,815
British Airways Pass-Through Trust
2020-1 A
4.25% due 5/15/2034(2)		593,189		589,001
Delta Air Lines, Inc.
7.00% due 5/1/2025(2)		717,000		767,455
Delta Air Lines, Inc. / SkyMiles IP Ltd.
4.50% due 10/20/2025(2)		296,000		298,105
4.75% due 10/20/2028(2)		300,000		302,679
				2,838,644
Apparel — 0.1%
Levi Strauss & Co.
3.50% due 3/1/2031(2)		331,000		303,842
				303,842
Auto Manufacturers — 1.0%
Ford Motor Co.
3.25% due 2/12/2032		1,252,000		1,118,049
General Motors Financial Co., Inc.
3.10% due 1/12/2032		694,000		624,489
3.60% due 6/21/2030		1,353,000		1,293,062
				3,035,600
Building Materials — 0.2%
Cemex SAB de CV
5.45% due 11/19/2029(2)		530,000		536,800
				536,800

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Chemicals — 0.4%
Braskem Netherlands Finance BV
4.50% due 1/31/2030(2)	$	505,000	$	489,855
CVR Partners LP / CVR Nitrogen Finance Corp.
6.125% due 6/15/2028(2)		511,000		512,942
Phosagro OAO Via Phosagro Bond Funding DAC
2.60% due 9/16/2028(2)(4)		290,000		85,419
				1,088,216
Coal — 0.2%
SunCoke Energy, Inc.
4.875% due 6/30/2029(2)		656,000		618,949
				618,949
Commercial Banks — 8.3%
ABN AMRO Bank NV
3.324% (3.324% fixed rate until 12/13/2031; H15T5Y + 1.90% thereafter) due 3/13/2037(2)(3)		400,000		362,984
Bank of America Corp.
2.087% (2.087% fixed rate until 6/14/2028; SOFR + 1.06% thereafter) due 6/14/2029(3)		821,000		750,246
2.687% (2.687% fixed rate until 4/22/2031; SOFR + 1.32% thereafter) due 4/22/2032(3)		642,000		590,088
3.593% (3.593% fixed rate until 7/21/2027; LIBOR 3 Month + 1.37% thereafter) due 7/21/2028(3)		1,125,000		1,127,745
4.45% due 3/3/2026		1,693,000		1,751,612
BankUnited, Inc.
5.125% due 6/11/2030		613,000		631,721
BNP Paribas SA
4.375% (4.375% fixed rate until 3/1/2028; 5 Year USD Swap + 1.48% thereafter) due 3/1/2033(2)(3)		810,000		805,197
Citigroup, Inc.
3.887% (3.887% fixed rate until 1/10/2027; LIBOR 3 Month + 1.56% thereafter) due 1/10/2028(3)		712,000		719,718
3.98% (3.98% fixed rate until 3/20/2029; LIBOR 3 Month + 1.34% thereafter) due 3/20/2030(3)		2,072,000		2,109,234
Danske Bank A/S
3.773% (3.773% fixed rate until 3/28/2024; H15T1Y + 1.45% thereafter) due 3/28/2025(2)(3)		1,030,000		1,033,152
4.375% due 6/12/2028(2)		200,000		202,272
Goldman Sachs Group, Inc.
2.383% (2.383% fixed rate until 7/21/2031; SOFR + 1.25% thereafter) due 7/21/2032(3)		1,373,000		1,220,089

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Commercial Banks — (continued)
2.615% (2.615% fixed rate until 4/22/2031; SOFR + 1.28% thereafter) due 4/22/2032(3)	$	499,000	$	453,561
JPMorgan Chase & Co.
2.963% (2.963% fixed rate until 1/25/2032; SOFR + 1.26% thereafter) due 1/25/2033(3)		707,000		667,238
3.54% (3.54% fixed rate until 5/1/2027; LIBOR 3 Month + 1.38% thereafter) due 5/1/2028(3)		1,002,000		1,004,996
3.782% (3.782% fixed rate until 2/1/2027; LIBOR 3 Month + 1.34% thereafter) due 2/1/2028(3)		604,000		611,671
Macquarie Bank Ltd.
3.624% due 6/3/2030(2)		203,000		191,394
Macquarie Group Ltd.
2.691% (2.691% fixed rate until 6/23/2031; SOFR + 1.44% thereafter) due 6/23/2032(2)(3)		968,000		851,937
4.654% (4.654% fixed rate until 3/27/2028; LIBOR 3 Month + 1.73% thereafter) due 3/27/2029(2)(3)		963,000		984,696
Morgan Stanley
2.239% (2.239% fixed rate until 7/21/2031; SOFR + 1.18% thereafter) due 7/21/2032(3)		348,000		308,558
2.484% (2.484% fixed rate until 9/16/2031; SOFR + 1.36% thereafter) due 9/16/2036(3)		542,000		465,307
4.431% (4.431% fixed rate until 1/23/2029; LIBOR 3 Month + 1.63% thereafter) due 1/23/2030(3)		1,893,000		1,982,103
Santander Holdings USA, Inc.
4.40% due 7/13/2027		66,000		67,137
UBS AG
5.125% due 5/15/2024		872,000		891,254
Wells Fargo & Co.
2.393% (2.393% fixed rate until 6/2/2027; SOFR + 2.10% thereafter) due 6/2/2028(3)		2,093,000		1,980,585
3.35% (3.35% fixed rate until 3/2/2032; SOFR + 1.50% thereafter) due 3/2/2033(3)		674,000		655,364
3.584% (3.584% fixed rate until 5/22/2027; LIBOR 3 Month + 1.31% thereafter) due 5/22/2028(3)		976,000		975,736
Westpac Banking Corp.
2.894% (2.894% fixed rate until 2/4/2025; H15T5Y + 1.35% thereafter) due 2/4/2030(3)		555,000		535,642

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Commercial Banks — (continued)
4.322% (4.322% fixed rate until 11/23/2026; 5 Year USD ICE Swap + 2.24% thereafter) due 11/23/2031(3)	$	1,300,000	$	1,307,111
				25,238,348
Commercial Services — 0.1%
Block, Inc.
3.50% due 6/1/2031(2)		340,000		312,633
				312,633
Computers — 0.4%
CA Magnum Holdings
5.375% due 10/31/2026(2)		327,000		320,591
Dell International LLC / EMC Corp.
3.375% due 12/15/2041(2)		535,000		451,470
8.35% due 7/15/2046		386,000		565,247
				1,337,308
Cosmetics & Personal Care — 0.1%
GSK Consumer Healthcare Capital U.S. LLC
3.625% due 3/24/2032(2)		295,000		295,121
				295,121
Diversified Financial Services — 3.6%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.30% due 1/30/2032		268,000		242,245
3.50% due 1/15/2025		872,000		856,121
3.875% due 1/23/2028		567,000		551,300
Aircastle Ltd.
2.85% due 1/26/2028(2)		745,000		671,252
Ally Financial, Inc.
4.70% (4.70% fixed rate until 5/15/2026; H15T5Y + 3.87% thereafter) due 5/15/2026(3)		364,000		341,829
8.00% due 11/1/2031		732,000		918,148
Aviation Capital Group LLC
1.95% due 1/30/2026(2)		408,000		375,405
5.50% due 12/15/2024(2)		982,000		1,012,157
Avolon Holdings Funding Ltd.
2.125% due 2/21/2026(2)		1,255,000		1,142,188
4.25% due 4/15/2026(2)		643,000		637,547
Coinbase Global, Inc.
3.375% due 10/1/2028(2)		359,000		317,245
CPPIB Capital, Inc.
1.00% due 4/4/2025(2)		2,000,000		2,055,560
Global Aircraft Leasing Co. Ltd.
6.50% Toggle PIK (6.50% Cash or 7.25% PIK) due 9/15/2024(2)(5)		498,479		453,247
Nationstar Mortgage Holdings, Inc.
5.50% due 8/15/2028(2)		370,000		356,332
Navient Corp.
5.00% due 3/15/2027		508,000		485,821
Neuberger Berman Group LLC / Neuberger Berman Finance Corp.
4.50% due 3/15/2027(2)		340,000		355,912
4.875% due 4/15/2045(2)		198,000		210,074
				10,982,383

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Electric — 2.3%
AES Corp.
3.95% due 7/15/2030(2)	$	578,000	$	572,388
Alfa Desarrollo SpA
4.55% due 9/27/2051(2)		493,665		427,475
Ausgrid Finance Pty. Ltd.
4.35% due 8/1/2028(2)		580,000		590,672
Calpine Corp.
5.125% due 3/15/2028(2)		302,000		288,099
Cikarang Listrindo Tbk PT
4.95% due 9/14/2026(2)		525,000		522,548
Constellation Energy Generation LLC
6.25% due 10/1/2039		727,000		823,473
FirstEnergy Corp.
2.65% due 3/1/2030		482,000		438,167
4.40% due 7/15/2027		1,041,000		1,047,902
Minejesa Capital BV
4.625% due 8/10/2030(2)		730,000		692,507
NRG Energy, Inc.
4.45% due 6/15/2029(2)		280,000		281,092
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara
3.00% due 6/30/2030(2)		680,000		620,860
Vistra Operations Co. LLC
3.55% due 7/15/2024(2)		841,000		833,507
				7,138,690
Electronics — 0.3%
Atkore, Inc.
4.25% due 6/1/2031(2)		334,000		313,749
II-VI, Inc.
5.00% due 12/15/2029(2)		631,000		619,573
				933,322
Entertainment — 0.4%
Jacobs Entertainment, Inc.
6.75% due 2/15/2029(2)		303,000		307,145
Live Nation Entertainment, Inc.
4.75% due 10/15/2027(2)		482,000		470,061
Mohegan Gaming & Entertainment
8.00% due 2/1/2026(2)		319,000		313,615
				1,090,821
Environmental Control — 0.2%
Madison IAQ LLC
4.125% due 6/30/2028(2)		703,000		648,257
				648,257
Food — 0.3%
Agrosuper SA
4.60% due 1/20/2032(2)		329,000		317,113
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc.
6.50% due 4/15/2029(2)		291,000		308,384
Kraft Heinz Foods Co.
4.875% due 10/1/2049		286,000		301,533
				927,030
Forest Products & Paper — 0.2%
Mercer International, Inc.
5.125% due 2/1/2029		518,000		499,875
				499,875

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Gas — 0.2%
National Fuel Gas Co.
5.50% due 1/15/2026	$	554,000	$	584,442
				584,442
Healthcare-Products — 0.1%
Mozart Debt Merger Sub, Inc.
3.875% due 4/1/2029(2)		330,000		305,234
				305,234
Healthcare-Services — 1.1%
Centene Corp.
2.45% due 7/15/2028		286,000		261,290
4.25% due 12/15/2027		1,120,000		1,124,312
CHS / Community Health Systems, Inc.
4.75% due 2/15/2031(2)		649,000		613,305
HCA, Inc.
4.625% due 3/15/2052(2)		401,000		406,221
RP Escrow Issuer LLC
5.25% due 12/15/2025(2)		515,000		503,680
Tenet Healthcare Corp.
6.25% due 2/1/2027(2)		353,000		362,552
				3,271,360
Home Builders — 0.2%
Toll Brothers Finance Corp.
3.80% due 11/1/2029		331,000		320,587
4.35% due 2/15/2028		363,000		365,907
				686,494
Housewares — 0.1%
Newell Brands, Inc.
5.625% due 4/1/2036		291,000		302,547
				302,547
Insurance — 0.2%
Assurant, Inc.
2.65% due 1/15/2032		313,000		273,158
First American Financial Corp.
2.40% due 8/15/2031		474,000		415,750
				688,908
Internet — 1.2%
Baidu, Inc.
2.375% due 8/23/2031		1,080,000		941,998
Netflix, Inc.
6.375% due 5/15/2029		662,000		749,861
Prosus NV
3.257% due 1/19/2027(2)		340,000		310,644
Tencent Holdings Ltd.
2.39% due 6/3/2030(2)		1,070,000		951,636
Uber Technologies, Inc.
4.50% due 8/15/2029(2)		506,000		474,385
8.00% due 11/1/2026(2)		315,000		334,691
				3,763,215
Investment Companies — 0.1%
Owl Rock Capital Corp.
2.875% due 6/11/2028		415,000		363,133
				363,133

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Iron & Steel — 0.2%
United States Steel Corp.
6.875% due 3/1/2029	$	617,000	$	642,050
				642,050
Leisure Time — 0.5%
Carnival Corp.
5.75% due 3/1/2027(2)		329,000		313,593
Life Time, Inc.
5.75% due 1/15/2026(2)		511,000		510,412
Royal Caribbean Cruises Ltd.
5.50% due 4/1/2028(2)		334,000		319,147
11.50% due 6/1/2025(2)		256,000		281,198
				1,424,350
Lodging — 0.3%
Hilton Domestic Operating Co., Inc.
3.75% due 5/1/2029(2)		309,000		290,389
MGM Resorts International
5.50% due 4/15/2027		323,000		327,509
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.
5.25% due 5/15/2027(2)		315,000		304,781
				922,679
Machinery-Diversified — 0.6%
nVent Finance Sarl
4.55% due 4/15/2028		1,112,000		1,146,461
TK Elevator US Newco, Inc.
5.25% due 7/15/2027(2)		556,000		551,780
				1,698,241
Media — 1.1%
CCO Holdings LLC / CCO Holdings Capital Corp.
4.50% due 5/1/2032		397,000		363,303
4.75% due 3/1/2030(2)		295,000		283,554
Charter Communications Operating LLC / Charter Communications Operating Capital
2.25% due 1/15/2029		1,130,000		1,019,734
5.25% due 4/1/2053		420,000		425,523
FactSet Research Systems, Inc.
3.45% due 3/1/2032		449,000		434,686
Time Warner Cable LLC
7.30% due 7/1/2038		288,000		350,110
Time Warner Entertainment Co. LP
8.375% due 7/15/2033		369,000		481,379
				3,358,289
Mining — 2.2%
Alcoa Nederland Holding BV
4.125% due 3/31/2029(2)		335,000		328,384
6.125% due 5/15/2028(2)		414,000		434,990
Anglo American Capital PLC
3.875% due 3/16/2029(2)		409,000		409,074
4.00% due 9/11/2027(2)		1,300,000		1,303,978
FMG Resources August 2006 Pty. Ltd.
4.375% due 4/1/2031(2)		507,000		479,014
Freeport-McMoRan, Inc.
4.125% due 3/1/2028		341,000		340,894
4.625% due 8/1/2030		477,000		487,661
5.45% due 3/15/2043		278,000		311,933
Glencore Funding LLC
2.85% due 4/27/2031(2)		555,000		507,658
4.875% due 3/12/2029(2)		1,547,000		1,630,522

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Mining — (continued)
Novelis Corp.
3.875% due 8/15/2031(2)	$	535,000	$	489,220
				6,723,328
Oil & Gas — 3.0%
California Resources Corp.
7.125% due 2/1/2026(2)		358,000		372,828
Callon Petroleum Co.
8.00% due 8/1/2028(2)		511,000		541,011
Comstock Resources, Inc.
6.75% due 3/1/2029(2)		331,000		340,741
Continental Resources, Inc.
5.75% due 1/15/2031(2)		1,475,000		1,611,968
EQT Corp.
7.50% due 2/1/2030		845,000		979,744
Helmerich & Payne, Inc.
2.90% due 9/29/2031(2)		118,000		108,279
Hilcorp Energy I LP / Hilcorp Finance Co.
5.75% due 2/1/2029(2)		338,000		338,139
Laredo Petroleum, Inc.
9.50% due 1/15/2025		504,000		525,894
MEG Energy Corp.
5.875% due 2/1/2029(2)		355,000		359,892
Occidental Petroleum Corp.
6.125% due 1/1/2031		112,000		126,000
6.625% due 9/1/2030		906,000		1,039,689
Ovintiv, Inc.
6.50% due 2/1/2038		498,000		591,704
Petroleos Mexicanos
6.70% due 2/16/2032		1,041,000		990,459
Range Resources Corp.
8.25% due 1/15/2029		331,000		362,710
SM Energy Co.
5.625% due 6/1/2025		340,000		340,194
6.75% due 9/15/2026		201,000		206,574
Tengizchevroil Finance Co. International Ltd.
3.25% due 8/15/2030(2)		235,000		190,160
				9,025,986
Oil & Gas Services — 0.1%
Weatherford International Ltd.
8.625% due 4/30/2030(2)		334,000		339,595
				339,595
Pharmaceuticals — 0.2%
Bayer Corp.
6.65% due 2/15/2028(2)		343,000		384,105
Organon & Co. / Organon Foreign Debt Co-Issuer BV
4.125% due 4/30/2028(2)		321,000		305,849
				689,954
Pipelines — 1.2%
Buckeye Partners LP
6.375% (6.375% fixed rate until 1/22/2023; LIBOR 3 Month + 4.02% thereafter) due 1/22/2078(3)		438,000		363,203
Cheniere Energy Partners LP
3.25% due 1/31/2032(2)		105,000		95,630

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Pipelines — (continued)
CNX Midstream Partners LP
4.75% due 4/15/2030(2)	$	326,000	$	305,491
Eastern Gas Transmission & Storage, Inc.
3.00% due 11/15/2029(2)		428,000		412,335
EIG Pearl Holdings Sarl
3.545% due 8/31/2036(2)		710,000		678,000
Galaxy Pipeline Assets Bidco Ltd.
3.25% due 9/30/2040(2)		717,000		649,129
NGPL PipeCo LLC
3.25% due 7/15/2031(2)		830,000		769,335
Venture Global Calcasieu Pass LLC
4.125% due 8/15/2031(2)		317,000		311,199
Western Midstream Operating LP
4.55% due 2/1/2030		223,000		222,882
				3,807,204
Real Estate Investment Trusts (REITs) — 1.4%
American Campus Communities Operating Partnership LP
2.25% due 1/15/2029		292,000		266,462
American Homes 4 Rent LP
2.375% due 7/15/2031		451,000		398,964
Blackstone Mortgage Trust, Inc.
3.75% due 1/15/2027(2)		720,000		670,284
EPR Properties
3.75% due 8/15/2029		712,000		671,651
4.95% due 4/15/2028		695,000		697,015
Invitation Homes Operating Partnership LP
2.00% due 8/15/2031		906,000		774,884
2.30% due 11/15/2028		342,000		310,847
Physicians Realty LP
2.625% due 11/1/2031		566,000		510,498
				4,300,605
Retail — 0.9%
Bath & Body Works, Inc.
6.875% due 11/1/2035		424,000		436,796
CEC Entertainment LLC
6.75% due 5/1/2026(2)		518,000		501,196
Kohl’s Corp.
5.55% due 7/17/2045		550,000		546,722
Lowe’s Cos., Inc.
3.75% due 4/1/2032		479,000		484,523
Murphy Oil USA, Inc.
3.75% due 2/15/2031(2)		353,000		323,503
Staples, Inc.
7.50% due 4/15/2026(2)		521,000		505,688
				2,798,428
Semiconductors — 0.4%
Broadcom, Inc.
4.15% due 4/15/2032(2)		603,000		601,680
Entegris, Inc.
3.625% due 5/1/2029(2)		307,000		287,091
TSMC Arizona Corp.
3.25% due 10/25/2051		360,000		325,688
				1,214,459
Software — 0.8%
Oracle Corp.
2.875% due 3/25/2031		2,310,000		2,108,014

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Software — (continued)
VMware, Inc.
4.70% due 5/15/2030	$	329,000	$	347,730
				2,455,744
Telecommunications — 0.3%
Frontier Communications Holdings LLC
5.875% due 11/1/2029		681,000		623,653
Sprint Capital Corp.
6.875% due 11/15/2028		279,000		323,063
				946,716
Transportation — 0.2%
Seaspan Corp.
5.50% due 8/1/2029(2)		343,000		322,749
Watco Cos. LLC / Watco Finance Corp.
6.50% due 6/15/2027(2)		331,000		325,711
				648,460
Total Corporate Bonds & Notes (Cost $115,724,649)				109,349,859
Municipals — 0.5%
County of Miami-Dade Florida
2.786% due 10/1/2037		215,000		193,853
Foothill-Eastern Transportation Corridor Agency
4.094% due 1/15/2049		361,000		366,457
New Jersey Transportation Trust Fund Authority
4.131% due 6/15/2042		605,000		601,490
New York City Transitional Finance Authority B-3
1.95% due 8/1/2034		330,000		270,450
Regents of the University of California Medical Center Pooled Revenue
3.006% due 5/15/2050		205,000		179,536
Total Municipals (Cost $1,777,963)				1,611,786
Non–Agency Mortgage–Backed Securities — 12.2%
Angel Oak Mortgage Trust
2020-1 A1
2.466% due 12/25/2059(2)(3)(6)		55,878		55,468
Atrium Hotel Portfolio Trust
2018-ATRM A
1.347% due 6/15/2035(2)(3)(6)		540,000		531,905
BAMLL Commercial Mortgage Securities Trust
2013-WBRK A
3.534% due 3/10/2037(2)(3)(6)		3,900,000		3,855,965
BBCMS Mortgage Trust
2019-BWAY A
1.353% due 11/15/2034(2)(3)(6)		365,000		360,343
2019-BWAY B
1.707% due 11/15/2034(2)(3)(6)		160,000		156,839
BFLD Trust
2019-DPLO E
2.637% due 10/15/2034(2)(3)(6)		1,000,000		981,410

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Non–Agency Mortgage–Backed Securities — (continued)
2019-DPLO F
2.937% due 10/15/2034(2)(3)(6)	$	410,000	$	395,959
BHMS
2018-ATLS A
1.647% due 7/15/2035(2)(3)(6)		560,000		554,105
2018-ATLS C
2.297% due 7/15/2035(2)(3)(6)		320,000		314,102
2018-ATLS D
2.647% due 7/15/2035(2)(3)(6)		1,110,000		1,081,413
BX Trust
2018-GW A
1.197% due 5/15/2035(2)(3)(6)		987,000		975,129
2021-ARIA E
2.642% due 10/15/2036(2)(3)(6)		1,220,000		1,187,916
2022-LBA6 C
1.901% due 1/15/2039(2)(3)(6)		1,090,000		1,057,215
Citigroup Commercial Mortgage Trust
2016-GC36 D
2.85% due 2/10/2049(2)		1,685,000		1,120,730
Commercial Mortgage Trust
2015-PC1 AM
4.29% due 7/10/2050(3)(6)		310,000		313,521
2015-PC1 B
4.324% due 7/10/2050(3)(6)		100,000		99,515
2015-PC1 C
4.324% due 7/10/2050(3)(6)		375,000		367,703
2015-PC1 D
4.324% due 7/10/2050(3)(6)		33,000		29,729
Connecticut Avenue Securities Trust
2021-R01 1M2
1.649% due 10/25/2041(2)(3)(6)		430,000		414,761
Credit Suisse Mortgage Capital Certificates
2020-SPT1 A1
1.616% due 4/25/2065(2)(3)(6)		164,279		162,735
Credit Suisse Mortgage Trust
2020-AFC1 A1
2.24% due 2/25/2050(2)(3)(6)		164,135		158,439
2021-BHAR C
2.397% due 11/15/2038(2)(3)(6)		890,000		878,279
DBWF Mortgage Trust
2018-GLKS A
1.479% due 12/19/2030(2)(3)(6)		630,000		624,158
Deephaven Residential Mortgage Trust
2021-3 A1
1.194% due 8/25/2066(2)(3)(6)		736,101		710,369
Extended Stay America Trust
2021-ESH C
2.097% due 7/15/2038(2)(3)(6)		646,024		635,879
Fannie Mae Connecticut Avenue Securities
2021-R02 2M2
2.099% due 11/25/2041(2)(3)(6)		420,000		393,693
Freddie Mac STACR REMIC Trust
2021-DNA3 M2
2.199% due 10/25/2033(2)(3)(6)		655,000		639,520
2021-DNA6 M2
1.599% due 10/25/2041(2)(3)(6)		739,000		702,549
2021-HQA3 M2
2.199% due 9/25/2041(2)(3)(6)		1,025,000		961,578

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Non–Agency Mortgage–Backed Securities — (continued)
2021-HQA4 M1
1.049% due 12/25/2041(2)(3)(6)	$	650,000	$	632,991
Freddie Mac Structured Agency Credit Risk Debt Note
2021-DNA7 M2
1.899% due 11/25/2041(2)(3)(6)		540,000		512,243
GCAT Trust
2020-NQM1 A1
2.247% due 1/25/2060(2)(3)(6)		33,844		33,566
Great Wolf Trust
2019-WOLF A
1.431% due 12/15/2036(2)(3)(6)		1,028,000		1,014,790
GS Mortgage Securities Corp. II
2012-BWTR A
2.954% due 11/5/2034(2)		1,273,000		1,271,782
2021-ARDN B
2.047% due 11/15/2036(2)(3)(6)		900,000		892,015
GS Mortgage Securities Corp. Trust
2018-RIVR A
1.347% due 7/15/2035(2)(3)(6)		437,247		433,523
2021-ROSS G
5.047% due 5/15/2026(2)(3)(6)		660,000		645,948
HONO Mortgage Trust
2021-LULU B
1.847% due 10/15/2036(2)(3)(6)		250,000		244,419
2021-LULU C
2.247% due 10/15/2036(2)(3)(6)		150,000		147,212
JP Morgan Chase Commercial Mortgage Securities Trust
2018-MINN A
2.27% due 11/15/2035(2)(3)(6)		339,000		339,716
2018-WPT AFL
1.489% due 7/5/2033(2)(3)(6)		234,229		233,623
2018-WPT BFL
1.789% due 7/5/2033(2)(3)(6)		724,000		720,681
2018-WPT BFX
4.549% due 7/5/2033(2)		218,000		220,202
2018-WPT CFX
4.95% due 7/5/2033(2)		290,000		292,903
2020-MKST E
2.647% due 12/15/2036(2)(3)(6)		570,000		538,634
JPMBB Commercial Mortgage Securities Trust
2015-C30 C
4.264% due 7/15/2048(3)(6)		340,000		331,564
KIND Trust
2021-KIND D
2.697% due 8/15/2038(2)(3)(6)		590,000		578,792
New Residential Mortgage Loan Trust
2020-NQM1 A1
2.464% due 1/26/2060(2)(3)(6)		52,827		52,428
One New York Plaza Trust
2020-1NYP B
1.897% due 1/15/2036(2)(3)(6)		850,000		835,398
PFP Ltd.
2019-6 A
1.481% due 4/14/2037(2)(3)(6)		118,981		117,948
Ready Capital Mortgage Financing LLC
2021-FL6 C
2.357% due 7/25/2036(2)(3)(6)		1,280,000		1,250,598
2022-FL8 A
1.756% due 1/25/2037(2)(3)(6)		1,060,000		1,057,777

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)		Principal Amount		Value
Non–Agency Mortgage–Backed Securities — (continued)
ReadyCap Commercial Mortgage Trust
2019-6 A
2.833% due 10/25/2052(2)		$	165,810	$	156,954
Residential Mortgage Loan Trust
2020-1 A1
2.376% due 1/26/2060(2)(3)(6)			41,706		41,251
Starwood Mortgage Residential Trust
2020-1 A1
2.275% due 2/25/2050(2)(3)(6)			35,845		35,730
2020-3 A1
1.486% due 4/25/2065(2)(3)(6)			300,783		295,220
Verus Securitization Trust
2020-1 A1
2.417% due 1/25/2060(2)(3)(6)			97,921		97,293
2020-5 A1
1.218% due 5/25/2065(2)(3)(6)			382,688		372,439
2021-2 A1
1.031% due 2/25/2066(2)(3)(6)			692,210		653,714
Vista Point Securitization Trust
2020-2 A1
1.475% due 4/25/2065(2)(3)(6)			218,930		215,952
Wells Fargo Commercial Mortgage Trust
2015-SG1 B
4.455% due 9/15/2048(3)(6)			1,260,000		1,209,829
2016-C35 C
4.176% due 7/15/2048(3)(6)			131,000		120,604
WFLD Mortgage Trust
2014-MONT A
3.755% due 8/10/2031(2)(3)(6)			2,000,000		1,983,885
Total Non–Agency Mortgage–Backed Securities (Cost $38,430,530)					37,302,551
Foreign Government — 1.3%
Egypt Government International Bond
5.80% due 9/30/2027(2)	USD		465,000		425,442
Ghana Government International Bond
6.375% due 2/11/2027(2)	USD		725,000		543,221
Kommunalbanken AS
1.256% due 6/17/2026(2)(3)	USD		2,292,000		2,363,121
Nigeria Government International Bond
7.143% due 2/23/2030(2)	USD		695,000		654,933
Sri Lanka Government International Bond
5.875% due 7/25/2022(2)	USD		200,000		132,024
Total Foreign Government (Cost $4,366,641)					4,118,741
Supranational Bonds — 0.4%
Asian Development Bank
1.28% due 4/6/2027		$	1,150,000		1,190,124
Total Supranational Bonds (Cost $1,191,377)					1,190,124
U.S. Government Securities — 20.8%
U.S. Treasury Bond
2.25% due 2/15/2052			4,106,000		3,937,911
2.375% due 2/15/2042			7,123,000		6,873,695
U.S. Treasury Inflation-Protected Indexed Bond
0.125% due 1/15/2032			6,083,760		6,467,883
0.125% due 2/15/2052			2,932,140		3,042,378
U.S. Treasury Note
0.875% due 1/31/2024			10,891,000		10,614,471
1.50% due 2/15/2025			5,613,000		5,456,888

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
U.S. Government Securities — (continued)
1.50% due 1/31/2027	$	5,142,000	$	4,914,627
2.25% due 3/31/2024		7,692,000		7,681,483
2.50% due 3/31/2027		14,553,000		14,587,109
Total U.S. Government Securities (Cost $64,417,048)				63,576,445
Short–Term Investments — 9.1%
U.S. Treasury Bills — 4.2%
U.S. Treasury Bill
0.761% due 7/28/2022(7)		12,885,000		12,853,174
Total U.S. Treasury Bills (Cost $12,860,610)				12,853,174
Repurchase Agreements — 4.9%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $15,127,452, due 4/1/2022(8)		15,127,451		15,127,451
Total Repurchase Agreements (Cost $15,127,451)				15,127,451
Total Investments(9) — 107.6% (Cost $339,499,569)				329,091,986
Liabilities in excess of other assets(10) — (7.6)%				(23,327,519	)
Total Net Assets — 100.0%			$	305,764,467

(1) TBA - To be announced.

(2) Securities that may be resold in transactions exempt from registration under Rule 144A of the Securities Act of 1933, as amended, normally to certain qualified buyers. At March 31, 2022, the aggregate market value of these securities amounted to $138,812,792, representing 45.4% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Fund’s liquidity procedures approved by the Board of Trustees.

(3) Variable rate securities, which may include step-up bonds or adjustable rate mortgages. The rate shown is the rate in effect at March 31, 2022.

(4) The table below presents securities deemed illiquid by the investment adviser.

Security	Principal Amount		Cost		Value		Acquisition Date		% of Fund’s Net Assets
MHP Lux SA	$	475,000	$	434,169	$	225,483		9/12/2019 – 3/31/2020		0.07	%
Phosagro OAO Via Phosagro Bond Funding DAC		290,000		290,000		85,419		9/9/2021		0.03	%

(5) Payment–in–kind security, for which interest payments may be made in additional principal ranging from 0% to 100% of the full stated interest rate. As of March 31, 2022, interest payments had been made in cash.

(6) Variable coupon rate based on weighted average interest rate of underlying mortgages.

(7) Interest rate shown reflects the discount rate at time of purchase.

(8) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	3,173,400	$	3,569,648
U.S. Treasury Bond		4.25	%		11/15/2040		9,513,300		11,860,412

(9) Securities are segregated to cover anticipated or existing derivative positions or to be announced securities (TBA).

(10) Liabilities in excess of other assets include net unrealized depreciation on futures contracts as follows:

Open futures contracts at March 31, 2022:

Type	Expiration		Contracts	Position	Notional Amount		Notional Value		Unrealized Depreciation
U.S. 2-Year Treasury Note		June 2022	71	Long	$	15,267,527	$	15,046,453	$	(221,074	)
U.S. 5-Year Treasury Note		June 2022	152	Long		17,904,771		17,432,500		(472,271	)
U.S. 10-Year Treasury Note		June 2022	21	Long		2,647,353		2,580,375		(66,978	)
U.S. Long Bond		June 2022	150	Long		23,203,482		22,509,375		(694,107	)
U.S. Ultra Bond		June 2022	72	Long		13,259,935		12,753,000		(506,935	)
Total					$	72,283,068	$	70,321,703	$	(1,961,365	)

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

Type	Expiration		Contracts	Position	Notional Amount			Notional Value			Unrealized Appreciation
U.S. Ultra 10-Year Treasury Note		June 2022	73	Short	$	(10,217,064	)	$	(9,889,219	)	$	327,845

Legend:

CLO – Collateralized Loan Obligation

H15T5Y – 5-year Constant Maturity Treasury Rate

ICE – Intercontinental Exchange

LIBOR – London Interbank Offered Rate

PIK – Payment–In–Kind

SOFR – Secured Overnight Financing Rate

SOFR30A – Secured Overnight Financing Rate 30-Day Average

USD – United States Dollar

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN CORE PLUS FIXED INCOME VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1			Level 2		Level 3		Total
Agency Mortgage–Backed Securities	$	—		$	26,635,339	$	—	$	26,635,339
Asset–Backed Securities		—			57,326,516		—		57,326,516
Corporate Bonds & Notes		—			109,349,859		—		109,349,859
Municipals		—			1,611,786		—		1,611,786
Non–Agency Mortgage–Backed Securities		—			37,302,551		—		37,302,551
Foreign Government		—			4,118,741		—		4,118,741
Supranational Bonds		—			1,190,124		—		1,190,124
U.S. Government Securities		—			63,576,445		—		63,576,445
U.S. Treasury Bills		—			12,853,174		—		12,853,174
Repurchase Agreements		—			15,127,451		—		15,127,451
Total	$	—		$	329,091,986	$	—	$	329,091,986
Other Financial Instruments
Futures Contracts
Assets	$	327,845		$	—	$	—	$	327,845
Liabilities		(1,961,365	)		—		—		(1,961,365	)
Total	$	(1,633,520	)	$	—	$	—	$	(1,633,520	)

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SMALL CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 99.2%
Airlines — 0.7%
SkyWest, Inc.(1)		66,673	$	1,923,516
				1,923,516
Auto Components — 2.1%
Goodyear Tire & Rubber Co.(1)		188,240		2,689,950
Visteon Corp.(1)		30,080		3,282,630
				5,972,580
Banks — 6.2%
Bank OZK		90,895		3,881,217
Cadence Bank		126,689		3,706,920
Veritex Holdings, Inc.		83,300		3,179,561
WesBanco, Inc.		95,661		3,286,912
Wintrust Financial Corp.		37,779		3,510,802
				17,565,412
Biotechnology — 1.3%
Amarin Corp. PLC, ADR(1)		838,886		2,759,935
Ultragenyx Pharmaceutical, Inc.(1)		13,300		965,846
				3,725,781
Building Products — 1.0%
Masonite International Corp.(1)		31,390		2,791,827
				2,791,827
Capital Markets — 0.6%
CONX Corp.(1)		165,930		1,655,981
				1,655,981
Chemicals — 2.6%
Avient Corp.		62,280		2,989,440
Olin Corp.		79,950		4,179,786
				7,169,226
Construction & Engineering — 1.3%
Primoris Services Corp.		157,100		3,742,122
				3,742,122
Consumer Finance — 2.4%
Encore Capital Group, Inc.(1)		44,515		2,792,426
Oportun Financial Corp.(1)		105,354		1,512,884
PROG Holdings, Inc.(1)		87,756		2,524,740
				6,830,050
Diversified Consumer Services — 1.0%
Stride, Inc.(1)		75,274		2,734,704
				2,734,704
Diversified Financial Services — 0.6%
East Resources Acquisition Co.(1)		152,130		1,523,582
				1,523,582
Diversified Telecommunication Services — 0.9%
Anterix, Inc.(1)		45,270		2,621,133
				2,621,133
Electric Utilities — 0.9%
Portland General Electric Co.		44,510		2,454,727
				2,454,727
Electrical Equipment — 1.6%
EnerSys		37,240		2,776,987

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SMALL CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Electrical Equipment — (continued)
Shoals Technologies Group, Inc., Class A(1)		92,040	$	1,568,361
				4,345,348
Electronic Equipment, Instruments & Components — 2.5%
Advanced Energy Industries, Inc.		31,450		2,707,216
Itron, Inc.(1)		44,400		2,338,992
nLight, Inc.(1)		118,396		2,052,987
				7,099,195
Energy Equipment & Services — 1.1%
Helmerich & Payne, Inc.		72,230		3,089,999
				3,089,999
Entertainment — 0.6%
PLAYSTUDIOS, Inc.(1)(2)		325,000		1,576,250
				1,576,250
Equity Real Estate Investment Trusts (REITs) — 5.6%
Corporate Office Properties Trust		115,600		3,299,224
Kite Realty Group Trust		158,502		3,609,090
LXP Industrial Trust		201,504		3,163,613
Physicians Realty Trust		177,660		3,116,156
RLJ Lodging Trust		178,070		2,507,226
				15,695,309
Food & Staples Retailing — 1.2%
Sprouts Farmers Market, Inc.(1)		106,023		3,390,616
				3,390,616
Food Products — 1.6%
Sovos Brands, Inc.(1)		156,252		2,215,654
Utz Brands, Inc.		159,690		2,360,218
				4,575,872
Health Care Equipment & Supplies — 2.2%
Lantheus Holdings, Inc.(1)		77,300		4,275,463
Novocure Ltd.(1)		13,900		1,151,615
Quotient Ltd.(1)		731,249		877,499
				6,304,577
Health Care Providers & Services — 5.9%
Acadia Healthcare Co., Inc.(1)		67,291		4,409,579
CareMax, Inc.(1)(2)		213,620		1,595,741
CareMax, Inc.(1)		26,700		199,449
HealthEquity, Inc.(1)		79,699		5,374,901
R1 RCM, Inc.(1)		189,656		5,075,195
				16,654,865
Health Care Technology — 1.8%
Health Catalyst, Inc.(1)		76,570		2,000,774
Omnicell, Inc.(1)		23,340		3,022,297
				5,023,071
Hotels, Restaurants & Leisure — 2.0%
Bloomin’ Brands, Inc.		153,510		3,368,009
Everi Holdings, Inc.(1)		109,190		2,292,990
				5,660,999
Household Durables — 1.8%
Century Communities, Inc.		94,210		5,046,830
				5,046,830

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SMALL CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Independent Power and Renewable Electricity Producers — 0.9%
Sunnova Energy International, Inc.(1)		114,500	$	2,640,370
				2,640,370
Insurance — 2.2%
Assured Guaranty Ltd.		61,009		3,883,833
BRP Group, Inc., Class A(1)		87,780		2,355,137
				6,238,970
Internet & Direct Marketing Retail — 0.6%
1stdibs.com, Inc.(1)		103,900		830,161
ThredUp, Inc., Class A(1)		125,006		962,546
				1,792,707
IT Services — 0.8%
Thoughtworks Holding, Inc.(1)		112,185		2,334,570
				2,334,570
Leisure Products — 1.6%
Solo Brands, Inc., Class A(1)		182,790		1,559,199
Vista Outdoor, Inc.(1)		82,420		2,941,570
				4,500,769
Life Sciences Tools & Services — 1.5%
NanoString Technologies, Inc.(1)		43,500		1,511,625
Syneos Health, Inc.(1)		32,886		2,662,122
				4,173,747
Machinery — 2.7%
Altra Industrial Motion Corp.		85,700		3,336,301
Hillman Solutions Corp.(1)		347,330		4,126,280
				7,462,581
Media — 3.6%
Advantage Solutions, Inc.(1)		126,630		807,899
Advantage Solutions, Inc.(1)(2)		269,628		1,720,227
Gray Television, Inc.		227,976		5,031,430
Integral Ad Science Holding Corp.(1)		194,500		2,684,100
				10,243,656
Metals & Mining — 3.0%
Commercial Metals Co.		81,704		3,400,520
Constellium SE(1)		137,300		2,471,400
MP Materials Corp.(1)		44,500		2,551,630
				8,423,550
Multi-Utilities — 1.9%
Black Hills Corp.		70,213		5,407,805
				5,407,805
Oil, Gas & Consumable Fuels — 5.0%
Brigham Minerals, Inc., Class A		130,030		3,322,267
CNX Resources Corp.(1)		204,350		4,234,132
HF Sinclair Corp.(1)		76,400		3,044,540
Magnolia Oil & Gas Corp., Class A		148,100		3,502,565
				14,103,504
Pharmaceuticals — 1.0%
Intra-Cellular Therapies, Inc.(1)		45,384		2,777,047
				2,777,047
Professional Services — 3.1%
ICF International, Inc.		29,536		2,780,519

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SMALL CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Professional Services — (continued)
Korn Ferry		43,310	$	2,812,551
Sterling Check Corp.(1)		121,300		3,205,959
				8,799,029
Road & Rail — 0.9%
Marten Transport Ltd.		149,020		2,646,595
				2,646,595
Semiconductors & Semiconductor Equipment — 2.6%
Semtech Corp.(1)		50,392		3,494,181
SMART Global Holdings, Inc.(1)		149,500		3,861,585
				7,355,766
Software — 4.6%
CommVault Systems, Inc.(1)		55,999		3,715,534
NCR Corp.(1)		101,160		4,065,620
Rapid7, Inc.(1)		23,144		2,574,539
WalkMe Ltd.(1)		163,400		2,465,706
				12,821,399
Specialty Retail — 4.4%
Group 1 Automotive, Inc.		13,100		2,198,573
Murphy USA, Inc.		25,892		5,177,364
Petco Health & Wellness Co., Inc.(1)		152,700		2,988,339
Urban Outfitters, Inc.(1)		78,890		1,980,928
				12,345,204
Thrifts & Mortgage Finance — 4.0%
NMI Holdings, Inc., Class A(1)		168,290		3,470,140
Washington Federal, Inc.		131,020		4,300,076
WSFS Financial Corp.		73,100		3,407,922
				11,178,138
Trading Companies & Distributors — 5.3%
Custom Truck One Source, Inc.(1)(2)		342,859		2,876,587
Custom Truck One Source, Inc.(1)		20,200		169,478
GATX Corp.		30,280		3,734,432
Rush Enterprises, Inc., Class A		60,672		3,088,812
Textainer Group Holdings Ltd.		134,310		5,113,182
				14,982,491
Total Common Stocks (Cost $235,148,347)				279,401,470
	Principal Amount		Value
Short–Term Investment — 1.0%
Repurchase Agreements — 1.0%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $2,809,970, due 4/1/2022(3)	$	2,809,970		2,809,970
Total Repurchase Agreements (Cost $2,809,970)				2,809,970
Total Investments — 100.2% (Cost $237,958,317)				282,211,440
Liabilities in excess of other assets — (0.2)%				(642,377	)
Total Net Assets — 100.0%			$	281,569,063

(1) Non–income–producing security.

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SMALL CAP CORE VIP FUND

(2) Security is restricted. Acquired through a private placement transaction exempt from registration under the Securities Act of 1933. May be subject to legal or contractual restrictions on resale. At March 31, 2022, the aggregate market value of these securities amounted to $7,768,805, representing 2.8% of net assets.

(3) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	2,548,100	$	2,866,269

Legend:

ADR – American Depositary Receipt

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SMALL CAP CORE VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2		Level 3		Total
Common Stocks	$	279,401,470	$	—	$	—	$	279,401,470
Repurchase Agreements		—		2,809,970		—		2,809,970
Total	$	279,401,470	$	2,809,970	$	—	$	282,211,440

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN GLOBAL UTILITIES VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 99.0%
Bermuda — 5.1%
China Gas Holdings Ltd.		1,003,400	$	1,281,129
CK Infrastructure Holdings Ltd.		437,500		2,927,491
				4,208,620
Brazil — 1.8%
Cia de Saneamento Basico do Estado de Sao Paulo		147,900		1,482,091
				1,482,091
China — 9.0%
China Longyuan Power Group Corp. Ltd., Class H		3,271,800		7,416,525
				7,416,525
France — 6.4%
Electricite de France SA		212,143		1,998,670
Engie SA		246,097		3,225,940
				5,224,610
Germany — 3.2%
RWE AG		60,000		2,617,099
				2,617,099
Italy — 3.7%
Enel SpA		447,985		2,991,664
				2,991,664
Japan — 2.6%
Kansai Electric Power Co., Inc.		138,600		1,307,661
Tokyo Gas Co. Ltd.		44,800		820,663
				2,128,324
Spain — 4.3%
Iberdrola SA		327,085		3,560,108
				3,560,108
United Kingdom — 4.3%
National Grid PLC		226,904		3,485,175
				3,485,175
United States — 58.6%
AES Corp.		127,724		3,286,339
American Electric Power Co., Inc.		40,888		4,079,396
CenterPoint Energy, Inc.		129,307		3,961,966
Constellation Energy Corp.		25,910		1,457,438
Dominion Energy, Inc.		6,541		555,789
Duke Energy Corp.		56,412		6,298,964
Edison International		51,270		3,594,027
Exelon Corp.		75,222		3,582,824
FirstEnergy Corp.		84,048		3,854,441
NextEra Energy, Inc.		43,633		3,696,151
NRG Energy, Inc.		73,184		2,807,338
Pinnacle West Capital Corp.		37,074		2,895,479
Sempra Energy		24,165		4,062,620
Southern Co.		53,957		3,912,422
				48,045,194
Total Common Stocks (Cost $66,862,679)				81,159,410

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN GLOBAL UTILITIES VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Rights — 0.1%
France — 0.1%
Electricite de France SA(1)(2)		212,143	$	93,873
Total Rights (Cost $0)				93,873
	Principal Amount		Value
Short–Term Investment — 0.4%
Repurchase Agreements — 0.4%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $331,843, due 4/1/2022(3)	$	331,843		331,843
Total Repurchase Agreements (Cost $331,843)				331,843
Total Investments — 99.5% (Cost $67,194,522)				81,585,126
Assets in excess of other liabilities — 0.5%				399,593
Total Net Assets — 100.0%			$	81,984,719

(1) Non–income–producing security.

(2) The table below presents securities deemed illiquid by the investment adviser.

Security	Shares		Cost		Value		Acquisition Date		% of Fund’s Net Assets
Electricite de France SA		212,143	$	0	$	93,873		3/23/2022		0.11	%

(3) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		4.25	%		11/15/2040	$	271,500	$	338,484

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN GLOBAL UTILITIES VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2			Level 3		Total
Common Stocks
Bermuda	$	—	$	4,208,620	*	$	—	$	4,208,620
Brazil		1,482,091		—			—		1,482,091
China		—		7,416,525	*		—		7,416,525
France		—		5,224,610	*		—		5,224,610
Germany		—		2,617,099	*		—		2,617,099
Italy		—		2,991,664	*		—		2,991,664
Japan		—		2,128,324	*		—		2,128,324
Spain		—		3,560,108	*		—		3,560,108
United Kingdom		—		3,485,175	*		—		3,485,175
United States		48,045,194		—			—		48,045,194
Rights
France		—		93,873	*		—		93,873
Repurchase Agreements		—		331,843			—		331,843
Total	$	49,527,285	$	32,057,841		$	—	$	81,585,126

^*  Consists of certain foreign securities whose values were determined by a pricing service using pricing models (See Notes to Schedule of Investments). These investments in securities were classified as Level 2 rather than Level 1.

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MULTI-SECTOR BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Asset-Backed Securities — 6.9%
AIMCO CLO
2017-AA DR
3.404% (LIBOR 3 Month + 3.15%) due 4/20/2034(1)(2)	$	1,800,000	$	1,794,861
AIMCO CLO 14 Ltd.
2021-14A D
3.154% (LIBOR 3 Month + 2.90%) due 4/20/2034(1)(2)		2,000,000		1,976,796
Ares XXXIV CLO Ltd.
2015-2A BR2
1.841% (LIBOR 3 Month + 1.60%) due 4/17/2033(1)(2)		300,000		298,318
Battalion CLO XIX Ltd.
2021-19A D
3.491% (LIBOR 3 Month + 3.25%) due 4/15/2034(1)(2)		2,000,000		1,982,580
BlueMountain CLO Ltd.
2014-2A BR2
2.004% (LIBOR 3 Month + 1.75%) due 10/20/2030(1)(2)		600,000		593,695
CIFC Funding Ltd.
2013-4A BRR
1.868% (LIBOR 3 Month + 1.60%) due 4/27/2031(1)(2)		1,200,000		1,185,120
Commonbond Student Loan Trust
2021-AGS A
1.20% due 3/25/2052(1)		636,725		605,989
DB Master Finance LLC
2021-1A A2II
2.493% due 11/20/2051(1)		947,625		853,880
Elmwood CLO IX Ltd.
2021-2A C
2.154% (LIBOR 3 Month + 1.90%) due 7/20/2034(1)(2)		1,000,000		992,671
Greywolf CLO II Ltd.
2013-1A C2RR
4.441% (LIBOR 3 Month + 4.20%) due 4/15/2034(1)(2)		2,400,000		2,388,562
ICG U.S. CLO Ltd.
2018-2A B
2.009% (LIBOR 3 Month + 1.75%) due 7/22/2031(1)(2)		1,000,000		994,361
Neuberger Berman CLO XVII Ltd.
2014-17A BR2
1.759% (LIBOR 3 Month + 1.50%) due 4/22/2029(1)(2)		1,400,000		1,382,920
Octagon Investment Partners 50 Ltd.
2020-4A DR
3.391% (LIBOR 3 Month + 3.15%) due 1/15/2035(1)(2)		400,000		394,854
OHA Credit Funding 2 Ltd.
2019-2A CR
2.455% (LIBOR 3 Month + 2.20%) due 4/21/2034(1)(2)		1,800,000		1,769,400
Oscar U.S. Funding XIV LLC
2022-1A A2
1.60% due 3/10/2025(1)		1,250,000		1,236,280
Voya CLO Ltd.
2016-3A A3R
1.991% (LIBOR 3 Month + 1.75%) due 10/18/2031(1)(2)		835,000		825,982
Total Asset-Backed Securities (Cost $19,543,609)				19,276,269

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MULTI-SECTOR BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — 68.2%
Aerospace & Defense — 1.9%
Boeing Co.
5.15% due 5/1/2030	$	5,100,000	$	5,431,806
				5,431,806
Airlines — 1.1%
American Airlines, Inc.
11.75% due 7/15/2025(1)		2,600,000		3,036,930
				3,036,930
Auto Manufacturers — 1.0%
Ford Motor Co.
9.625% due 4/22/2030		875,000		1,140,877
General Motors Co.
5.95% due 4/1/2049		200,000		223,270
General Motors Financial Co., Inc.
3.60% due 6/21/2030		1,500,000		1,433,550
				2,797,697
Beverages — 0.6%
Anheuser-Busch InBev Worldwide, Inc.
4.50% due 6/1/2050		1,500,000		1,610,175
				1,610,175
Building Materials — 0.5%
Cornerstone Building Brands, Inc.
6.125% due 1/15/2029(1)		1,500,000		1,393,125
				1,393,125
Chemicals — 0.5%
Nutrien Ltd.
2.95% due 5/13/2030		1,400,000		1,348,984
				1,348,984
Commercial Banks — 4.9%
Bank of America Corp.
2.687% (2.687% fixed rate until 4/22/2031; SOFR + 1. 32% thereafter) due 4/22/2032(2)		3,600,000		3,308,904
2.831% (2.831% fixed rate until 10/24/2050; SOFR + 1. 88% thereafter) due 10/24/2051(2)		1,800,000		1,532,340
Goldman Sachs Group, Inc.
3.102% (3.102% fixed rate until 2/24/2032; SOFR + 1. 41% thereafter) due 2/24/2033(2)		3,200,000		3,019,520
JPMorgan Chase & Co.
2.963% (2.963% fixed rate until 1/25/2032; SOFR + 1. 26% thereafter) due 1/25/2033(2)		3,000,000		2,831,280
Morgan Stanley
2.484% (2.484% fixed rate until 9/16/2031; SOFR + 1. 36% thereafter) due 9/16/2036(2)		2,100,000		1,802,850

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MULTI-SECTOR BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Commercial Banks — (continued)
3.217% (3.217% fixed rate until 4/22/2041; SOFR + 1.49% thereafter) due 4/22/2042(2)	$	1,300,000	$	1,196,832
				13,691,726
Commercial Services — 0.5%
Hertz Corp.
5.00% due 12/1/2029(1)		1,000,000		909,620
Team Health Holdings, Inc.
6.375% due 2/1/2025(1)		500,000		449,885
				1,359,505
Diversified Financial Services — 2.4%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.00% due 10/29/2028		1,200,000		1,106,208
Air Lease Corp.
3.00% due 2/1/2030		1,100,000		1,012,737
4.625% due 10/1/2028		2,000,000		2,037,460
Jefferies Group LLC / Jefferies Group Capital Finance, Inc.
2.625% due 10/15/2031		3,000,000		2,701,920
				6,858,325
Electric — 1.0%
Ameren Illinois Co.
4.50% due 3/15/2049		850,000		942,148
Duke Energy Corp.
3.50% due 6/15/2051		1,200,000		1,093,920
Pacific Gas and Electric Co.
3.50% due 8/1/2050		1,100,000		876,073
				2,912,141
Entertainment — 1.8%
Affinity Gaming
6.875% due 12/15/2027(1)		2,000,000		1,953,700
Magallanes, Inc.
4.279% due 3/15/2032(1)		2,550,000		2,564,356
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp.
5.625% due 9/1/2029(1)		200,000		172,178
5.875% due 9/1/2031(1)		400,000		342,492
				5,032,726
Environmental Control — 0.2%
Waste Connections, Inc.
3.05% due 4/1/2050		500,000		433,530
				433,530
Food — 1.4%
Kraft Heinz Foods Co.
3.75% due 4/1/2030		3,000,000		3,004,830
4.875% due 10/1/2049		500,000		527,155
Post Holdings, Inc.
5.75% due 3/1/2027(1)		353,000		355,256
				3,887,241
Food Service — 0.4%
Aramark Services, Inc.
6.375% due 5/1/2025(1)		1,000,000		1,026,980
				1,026,980

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MULTI-SECTOR BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Healthcare-Products — 0.5%
Abbott Laboratories
4.75% due 11/30/2036	$	1,150,000	$	1,339,509
				1,339,509
Healthcare-Services — 1.2%
Surgery Center Holdings, Inc.
10.00% due 4/15/2027(1)		2,200,000		2,316,292
Tenet Healthcare Corp.
6.75% due 6/15/2023		1,000,000		1,041,980
				3,358,272
Housewares — 0.8%
Newell Brands, Inc.
5.75% due 4/1/2046		800,000		836,168
SWF Escrow Issuer Corp.
6.50% due 10/1/2029(1)		1,750,000		1,499,313
				2,335,481
Insurance — 4.9%
Athene Holding Ltd.
3.50% due 1/15/2031		3,000,000		2,870,400
Chubb INA Holdings, Inc.
1.375% due 9/15/2030		7,400,000		6,447,102
CNA Financial Corp.
2.05% due 8/15/2030		5,010,000		4,436,155
				13,753,657
Internet — 1.1%
Expedia Group, Inc.
2.95% due 3/15/2031		3,350,000		3,108,431
				3,108,431
Leisure Time — 1.5%
Life Time, Inc.
5.75% due 1/15/2026(1)		2,000,000		1,997,700
Viking Cruises Ltd.
13.00% due 5/15/2025(1)		1,965,000		2,181,327
				4,179,027
Lodging — 1.2%
Marriott International, Inc.
2.85% due 4/15/2031		2,830,000		2,586,761
MGM Resorts International
5.50% due 4/15/2027		800,000		811,168
				3,397,929
Media — 7.3%
AMC Networks, Inc.
4.25% due 2/15/2029		2,000,000		1,867,240
Audacy Capital Corp.
6.75% due 3/31/2029(1)		1,500,000		1,400,760
Charter Communications Operating LLC / Charter Communications Operating Capital
2.30% due 2/1/2032		3,700,000		3,161,576
Comcast Corp.
1.50% due 2/15/2031		2,450,000		2,133,803
2.937% due 11/1/2056(1)		500,000		416,990
CSC Holdings LLC
5.75% due 1/15/2030(1)		500,000		445,350
7.50% due 4/1/2028(1)		1,500,000		1,473,990

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MULTI-SECTOR BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Media — (continued)
Gray Television, Inc.
7.00% due 5/15/2027(1)	$	2,000,000	$	2,085,860
iHeartCommunications, Inc.
5.25% due 8/15/2027(1)		2,100,000		2,078,139
Scripps Escrow, Inc.
5.875% due 7/15/2027(1)		1,425,000		1,427,066
Sinclair Television Group, Inc.
5.50% due 3/1/2030(1)		1,750,000		1,519,175
Sirius XM Radio, Inc.
5.50% due 7/1/2029(1)		2,000,000		2,029,300
TEGNA, Inc.
5.00% due 9/15/2029		500,000		502,740
				20,541,989
Mining — 1.0%
Freeport-McMoRan, Inc.
4.25% due 3/1/2030		2,750,000		2,768,728
				2,768,728
Oil & Gas — 6.7%
Antero Resources Corp.
7.625% due 2/1/2029(1)		1,043,000		1,129,173
8.375% due 7/15/2026(1)		696,000		769,442
Cenovus Energy, Inc.
2.65% due 1/15/2032		3,650,000		3,304,053
4.25% due 4/15/2027		500,000		516,615
CITGO Petroleum Corp.
7.00% due 6/15/2025(1)		250,000		252,915
Hess Corp.
4.30% due 4/1/2027		3,250,000		3,338,627
Marathon Oil Corp.
4.40% due 7/15/2027		600,000		619,410
Ovintiv Exploration, Inc.
5.375% due 1/1/2026		8,100,000		8,590,617
PBF Holding Co. LLC / PBF Finance Corp.
6.00% due 2/15/2028		250,000		200,975
9.25% due 5/15/2025(1)		260,000		267,509
				18,989,336
Oil & Gas Services — 0.3%
TechnipFMC PLC
6.50% due 2/1/2026(1)		700,000		725,116
				725,116
Pharmaceuticals — 2.2%
AbbVie, Inc.
4.25% due 11/21/2049		1,400,000		1,460,802
Bausch Health Cos., Inc.
5.25% due 1/30/2030(1)		2,000,000		1,574,540
6.125% due 4/15/2025(1)		815,000		821,365
Bristol Myers Squibb Co.
2.95% due 3/15/2032		2,100,000		2,058,126
3.70% due 3/15/2052		400,000		402,452
				6,317,285
Pipelines — 2.7%
Boardwalk Pipelines LP
3.40% due 2/15/2031		3,300,000		3,123,879

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MULTI-SECTOR BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Pipelines — (continued)
ONEOK, Inc.
3.40% due 9/1/2029	$	800,000	$	770,256
4.45% due 9/1/2049		400,000		387,984
Targa Resources Partners LP / Targa Resources Partners Finance Corp.
4.00% due 1/15/2032		3,500,000		3,359,335
				7,641,454
Real Estate Investment Trusts (REITs) — 4.6%
Alexandria Real Estate Equities, Inc.
2.95% due 3/15/2034		3,600,000		3,389,508
Essex Portfolio LP
2.65% due 3/15/2032		1,200,000		1,097,208
4.00% due 3/1/2029		2,500,000		2,576,675
Life Storage LP
2.40% due 10/15/2031		2,000,000		1,765,920
Simon Property Group LP
2.20% due 2/1/2031		4,700,000		4,237,802
				13,067,113
Retail — 1.3%
Michaels Cos., Inc.
7.875% due 5/1/2029(1)		725,000		618,070
PetSmart, Inc. / PetSmart Finance Corp.
7.75% due 2/15/2029(1)		3,000,000		3,098,040
				3,716,110
Semiconductors — 4.0%
NVIDIA Corp.
2.00% due 6/15/2031		8,000,000		7,313,840
NXP BV / NXP Funding LLC / NXP USA, Inc.
2.65% due 2/15/2032(1)		4,500,000		4,059,135
				11,372,975
Software — 2.4%
Electronic Arts, Inc.
1.85% due 2/15/2031		4,000,000		3,521,400
VMware, Inc.
2.20% due 8/15/2031		3,800,000		3,342,252
				6,863,652
Telecommunications — 6.0%
AT&T, Inc.
2.55% due 12/1/2033		1,900,000		1,690,164
3.50% due 9/15/2053		300,000		265,251
Frontier Communications Holdings LLC
5.00% due 5/1/2028(1)		2,000,000		1,924,700
Level 3 Financing, Inc.
4.625% due 9/15/2027(1)		1,000,000		943,370
Sprint Corp.
7.625% due 3/1/2026		500,000		564,655
T-Mobile USA, Inc.
2.70% due 3/15/2032(1)		1,300,000		1,183,429
3.40% due 10/15/2052(1)		300,000		256,263
3.50% due 4/15/2031		2,990,000		2,815,294
4.75% due 2/1/2028		1,000,000		1,016,250
Telesat Canada / Telesat LLC
5.625% due 12/6/2026(1)		625,000		477,063

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MULTI-SECTOR BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Telecommunications — (continued)
Verizon Communications, Inc.
2.355% due 3/15/2032(1)	$	3,000,000	$	2,712,330
3.875% due 3/1/2052		600,000		604,020
Vodafone Group PLC
4.375% due 5/30/2028		1,800,000		1,886,958
4.875% due 6/19/2049		600,000		652,470
				16,992,217
Transportation — 0.3%
Cargo Aircraft Management, Inc.
4.75% due 2/1/2028(1)		750,000		731,183
				731,183
Total Corporate Bonds & Notes (Cost $202,564,642)				192,020,355
Non-Agency Mortgage-Backed Securities — 5.2%
BANK
2019-BN24 AS
3.283% due 11/15/2062(2)(3)		1,412,000		1,376,209
BB-UBS Trust
2012-SHOW A
3.43% due 11/5/2036(1)		1,200,000		1,181,092
Benchmark Mortgage Trust
2019-B12 AS
3.419% due 8/15/2052		4,500,000		4,433,072
Citigroup Commercial Mortgage Trust
2016-C3 AS
3.366% due 11/15/2049(2)(3)		1,000,000		972,891
Jackson Park Trust
2019-LIC B
2.914% due 10/14/2039(1)		640,000		579,903
Morgan Stanley Capital I Trust
2020-L4 AS
2.88% due 2/15/2053		1,000,000		951,617
NYC Commercial Mortgage Trust
2021-909 C
3.206% due 4/10/2043(1)(2)(3)		385,000		343,310
ONE Park Mortgage Trust
2021-PARK B
1.347% due 3/15/2036(1)(2)(3)		500,000		482,521
SLG Office Trust
2021-OVA A
2.585% due 7/15/2041(1)		1,600,000		1,489,705
Stack Infrastructure Issuer LLC
2021-1A A2
1.877% due 3/26/2046(1)		750,000		692,734
Wells Fargo Commercial Mortgage Trust
2017-C42 B
4.002% due 12/15/2050(2)(3)		500,000		500,194
WFRBS Commercial Mortgage Trust
2014-C19 AS
4.271% due 3/15/2047		1,500,000		1,513,114
Total Non-Agency Mortgage-Backed Securities (Cost $15,628,927)				14,516,362
U.S. Government Securities — 7.0%
U.S. Treasury Note
0.875% due 1/31/2024		800,000		779,687
1.25% due 5/31/2028		1,900,000		1,768,930
1.50% due 9/30/2024		12,200,000		11,912,156
1.50% due 1/31/2027		3,000,000		2,867,344
1.625% due 8/15/2029		100,000		94,828

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MULTI-SECTOR BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
U.S. Government Securities — (continued)
1.625% due 5/15/2031	$	2,400,000	$	2,260,500
Total U.S. Government Securities (Cost $20,381,169)				19,683,445
	Shares		Value
Common Stocks — 0.0%
Media — 0.0%
Altice USA, Inc., Class A(4)		10,940		136,531
Total Common Stocks (Cost $125,181)				136,531
Exchange–Traded Funds — 9.6%
Invesco Senior Loan ETF		606,670		13,207,206
SPDR Blackstone Senior Loan ETF		307,000		13,802,720
Total Exchange-Traded Funds (Cost $27,616,842)				27,009,926
	Principal Amount		Value
Short-Term Investment — 0.5%
Repurchase Agreements — 0.5%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $1,520,222, due 4/1/2022(5)	$	1,520,222		1,520,222
Total Repurchase Agreements (Cost $1,520,222)				1,520,222
Total Investments(6) — 97.4% (Cost $287,380,592)				274,163,110
Assets in excess of other liabilities(7) — 2.6%				7,223,176
Total Net Assets — 100.0%			$	281,386,286

(1) Securities that may be resold in transactions exempt from registration under Rule 144A of the Securities Act of 1933, as amended, normally to certain qualified buyers. At March 31, 2022, the aggregate market value of these securities amounted to $78,664,961, representing 28.0% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Fund’s liquidity procedures approved by the Board of Trustees.

(2) Variable rate securities, which may include step-up bonds or adjustable rate mortgages. The rate shown is the rate in effect at March 31, 2022.

(3) Variable coupon rate based on weighted average interest rate of underlying mortgages.

(4) Non–income–producing security.

(5) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		4.25	%		11/15/2040	$	1,243,800	$	1,550,669

(6) Securities are segregated to cover anticipated or existing derivative positions or to be announced securities (TBA).

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MULTI-SECTOR BOND VIP FUND

(7) Assets in excess of other liabilities include net unrealized depreciation on futures contracts and centrally cleared swap contracts as follows:

Open futures contracts at March 31, 2022:

Type							Expiration		Contracts			Position		Notional Amount			Notional Value			Unrealized Depreciation
U.S. 5-Year Treasury Note								June 2022		91			Long	$	10,741,898		$	10,436,563		$	(305,335	)
U.S. Long Bond								June 2022		208			Long		31,987,393			31,213,000			(774,393	)
U.S. Ultra Bond								June 2022		127			Long		23,356,453			22,494,875			(861,578	)
Total														$	66,085,744		$	64,144,438		$	(1,941,306	)
Type							Expiration		Contracts			Position		Notional Amount			Notional Value			Unrealized Appreciation
U.S. 10-Year Treasury Note								June 2022		36			Short	$	(4,603,758	)	$	(4,423,500	)	$	180,258
U.S. Ultra 10-Year Treasury Note								June 2022		329			Short		(46,083,446	)		(44,569,219	)		1,514,227
Total														$	(50,687,204	)	$	(48,992,719	)	$	1,694,485
Centrally cleared credit default swap agreements — buy protection(8):
Reference Entity	Implied Credit Spread at 3/31/22(9)			Notional(10)			Maturity		(Pay)/Receive Fixed Rate			Periodic Payment Frequency		Upfront Payments Made			Value			Unrealized Depreciation
CDX.NA.HY.S38		3.76	%		USD	30,000,000		6/20/2027		(5.00	)%		Quarterly	$	(1,424,591	)	$	(1,654,014	)	$	(229,423	)

(8) When a credit event occurs as defined under the terms of the swap agreement, the Fund as a buyer of credit protection will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced obligation or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced obligation.

(9) Implied credit spread, represented in absolute terms, utilized in determining the value of the credit default swap agreements as of period end will serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a referenced entity reflects the cost of buying/selling protection and may include payments required to be made to enter into the agreement. Generally, wider credit spreads represent a perceived deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the swap agreement.

(10) The notional amount represents the maximum potential amount the Fund could receive as a buyer of credit protection if a credit event occurs, as defined under the terms of the swap agreement, for each security included in the CDX North America High Yield Index.

Legend:

CLO – Collateralized Loan Obligation

LIBOR – London Interbank Offered Rate

SOFR – Secured Overnight Financing Rate

USD – United States Dollar

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN MULTI-SECTOR BOND VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1			Level 2			Level 3		Total
Asset-Backed Securities	$	—		$	19,276,269		$	—	$	19,276,269
Corporate Bonds & Notes		—			192,020,355			—		192,020,355
Non-Agency Mortgage-Backed Securities		—			14,516,362			—		14,516,362
U.S. Government Securities		—			19,683,445			—		19,683,445
Common Stocks		136,531			—			—		136,531
Exchange-Traded Funds		27,009,926			—			—		27,009,926
Repurchase Agreements		—			1,520,222			—		1,520,222
Total	$	27,146,457		$	247,016,653		$	—	$	274,163,110
Other Financial Instruments
Futures Contracts
Assets	$	1,694,485		$	—		$	—	$	1,694,485
Liabilities		(1,941,306	)		—			—		(1,941,306	)
Swap Contracts
Liabilities		—			(229,423	)		—		(229,423	)
Total	$	(246,821	)	$	(229,423	)	$	—	$	(476,244	)

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN TOTAL RETURN BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Asset-Backed Securities — 11.9%
AIMCO CLO
2017-AA DR
3.404% (LIBOR 3 Month + 3.15%) due 4/20/2034(1)(2)	$	2,000,000	$	1,994,290
AIMCO CLO 14 Ltd.
2021-14A D
3.154% (LIBOR 3 Month + 2.90%) due 4/20/2034(1)(2)		2,200,000		2,174,475
Ares XXXIIR CLO Ltd.
2014-32RA B
2.306% (LIBOR 3 Month + 1.80%) due 5/15/2030(1)(2)		1,200,000		1,161,360
Ares XXXIV CLO Ltd.
2015-2A BR2
1.841% (LIBOR 3 Month + 1.60%) due 4/17/2033(1)(2)		450,000		447,476
Battalion CLO XIX Ltd.
2021-19A D
3.491% (LIBOR 3 Month + 3.25%) due 4/15/2034(1)(2)		2,200,000		2,180,838
Battalion CLO XX Ltd.
2021-20A D
3.341% (LIBOR 3 Month + 3.10%) due 7/15/2034(1)(2)		2,000,000		1,964,632
BlueMountain CLO Ltd.
2014-2A BR2
2.004% (LIBOR 3 Month + 1.75%) due 10/20/2030(1)(2)		800,000		791,594
Carlyle U.S. CLO Ltd.
2017-3A BR
2.254% (LIBOR 3 Month + 2.00%) due 7/20/2029(1)(2)		3,000,000		2,977,353
CIFC Funding Ltd.
2013-4A BRR
1.868% (LIBOR 3 Month + 1.60%) due 4/27/2031(1)(2)		800,000		790,080
Commonbond Student Loan Trust
2021-AGS A
1.20% due 3/25/2052(1)		1,172,914		1,116,296
DB Master Finance LLC
2021-1A A2II
2.493% due 11/20/2051(1)		1,047,375		943,762
Elmwood CLO IX Ltd.
2021-2A C
2.154% (LIBOR 3 Month + 1.90%) due 7/20/2034(1)(2)		3,000,000		2,978,013
Greywolf CLO II Ltd.
2013-1A C2RR
4.441% (LIBOR 3 Month + 4.20%) due 4/15/2034(1)(2)		2,700,000		2,687,132
ICG U.S. CLO Ltd.
2018-2A B
2.009% (LIBOR 3 Month + 1.75%) due 7/22/2031(1)(2)		1,300,000		1,292,669
Neuberger Berman CLO XVI-S Ltd.
2017-16SA BR
1.641% (LIBOR 3 Month + 1.40%) due 4/15/2034(1)(2)		1,000,000		993,192
Neuberger Berman CLO XVII Ltd.
2014-17A BR2
1.759% (LIBOR 3 Month + 1.50%) due 4/22/2029(1)(2)		1,100,000		1,086,580

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN TOTAL RETURN BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Asset-Backed Securities — (continued)
Octagon Investment Partners 50 Ltd.
2020-4A DR
3.391% (LIBOR 3 Month + 3.15%) due 1/15/2035(1)(2)	$	1,100,000	$	1,085,850
Octagon Loan Funding Ltd.
2014-1A CRR
2.688% (LIBOR 3 Month + 2.20%) due 11/18/2031(1)(2)		3,200,000		3,149,120
OHA Credit Funding 3 Ltd.
2019-3A CR
2.204% (LIBOR 3 Month + 1.95%) due 7/2/2035(1)(2)		3,000,000		2,978,304
Oscar U.S. Funding XIV LLC
2022-1A A2
1.60% due 3/10/2025(1)		1,350,000		1,335,183
Riserva CLO Ltd.
2016-3A CRR
2.041% (LIBOR 3 Month + 1.80%) due 1/18/2034(1)(2)		3,000,000		2,854,200
Voya CLO Ltd.
2016-3A A3R
1.991% (LIBOR 3 Month + 1.75%) due 10/18/2031(1)(2)		955,000		944,686
Total Asset-Backed Securities (Cost $38,541,659)				37,927,085
Corporate Bonds & Notes — 60.2%
Advertising — 0.5%
Omnicom Group, Inc.
2.60% due 8/1/2031		1,700,000		1,572,092
				1,572,092
Aerospace & Defense — 2.4%
Boeing Co.
5.15% due 5/1/2030		4,850,000		5,165,541
Northrop Grumman Corp.
4.40% due 5/1/2030		1,400,000		1,501,332
5.25% due 5/1/2050		800,000		1,000,040
				7,666,913
Airlines — 0.6%
American Airlines, Inc.
11.75% due 7/15/2025(1)		1,700,000		1,985,685
				1,985,685
Auto Manufacturers — 1.1%
Ford Motor Co.
9.625% due 4/22/2030		875,000		1,140,877
General Motors Financial Co., Inc.
3.60% due 6/21/2030		2,550,000		2,437,035
				3,577,912
Beverages — 0.7%
Anheuser-Busch InBev Worldwide, Inc.
3.50% due 6/1/2030		1,000,000		1,015,350
4.50% due 6/1/2050		1,200,000		1,288,140
				2,303,490

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN TOTAL RETURN BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Building Materials — 1.1%
Cornerstone Building Brands, Inc.
6.125% due 1/15/2029(1)	$	1,500,000	$	1,393,125
Mohawk Industries, Inc.
3.625% due 5/15/2030		2,200,000		2,160,862
				3,553,987
Chemicals — 0.7%
Nutrien Ltd.
2.95% due 5/13/2030		2,400,000		2,312,544
				2,312,544
Commercial Banks — 5.8%
ASB Bank Ltd.
2.375% due 10/22/2031(1)		2,400,000		2,169,624
Bank of America Corp.
2.687% (2.687% fixed rate until 4/22/2031; SOFR + 1.32% thereafter) due 4/22/2032(2)		3,600,000		3,308,904
2.831% (2.831% fixed rate until 10/24/2050; SOFR + 1.88% thereafter) due 10/24/2051(2)		1,300,000		1,106,690
Discover Bank
2.70% due 2/6/2030		3,000,000		2,744,760
Goldman Sachs Group, Inc.
3.102% (3.102% fixed rate until 2/24/2032; SOFR + 1.41% thereafter) due 2/24/2033(2)		1,900,000		1,792,840
Huntington Bancshares, Inc.
2.487% (2.487% fixed rate until 8/15/2031; H15T5Y + 1.17% thereafter) due 8/15/2036(1)(2)		1,700,000		1,478,150
JPMorgan Chase & Co.
2.963% (2.963% fixed rate until 1/25/2032; SOFR + 1.26% thereafter) due 1/25/2033(2)		2,900,000		2,736,904
Morgan Stanley
1.928% (1.928% fixed rate until 4/28/2031; SOFR + 1.02% thereafter) due 4/28/2032(2)		1,000,000		864,240
2.484% (2.484% fixed rate until 9/16/2031; SOFR + 1.36% thereafter) due 9/16/2036(2)		2,500,000		2,146,250
				18,348,362
Commercial Services — 0.4%
Hertz Corp.
5.00% due 12/1/2029(1)		1,000,000		909,620
Team Health Holdings, Inc.
6.375% due 2/1/2025(1)		500,000		449,885
				1,359,505
Computers — 0.2%
Apple, Inc.
2.65% due 2/8/2051		700,000		605,220
				605,220

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN TOTAL RETURN BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Diversified Financial Services — 1.8%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.00% due 10/29/2028	$	900,000	$	829,656
Air Lease Corp.
4.625% due 10/1/2028		1,800,000		1,833,714
Jefferies Group LLC / Jefferies Group Capital Finance, Inc.
4.15% due 1/23/2030		3,100,000		3,160,016
				5,823,386
Electric — 2.0%
Ameren Illinois Co.
4.50% due 3/15/2049		1,060,000		1,174,915
CenterPoint Energy Houston Electric LLC
Series AD
2.90% due 7/1/2050		700,000		614,355
Duke Energy Corp.
3.50% due 6/15/2051		1,500,000		1,367,400
Pacific Gas and Electric Co.
3.50% due 8/1/2050		1,100,000		876,073
Public Service Enterprise Group, Inc.
2.45% due 11/15/2031		2,600,000		2,359,812
				6,392,555
Electronics — 0.5%
Honeywell International, Inc.
1.75% due 9/1/2031		1,900,000		1,702,324
				1,702,324
Entertainment — 1.3%
Affinity Gaming
6.875% due 12/15/2027(1)		1,500,000		1,465,275
Magallanes, Inc.
4.279% due 3/15/2032(1)		2,250,000		2,262,667
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp.
5.625% due 9/1/2029(1)		200,000		172,178
5.875% due 9/1/2031(1)		400,000		342,492
				4,242,612
Environmental Control — 1.0%
Waste Connections, Inc.
3.05% due 4/1/2050		550,000		476,883
Waste Management, Inc.
1.50% due 3/15/2031		3,200,000		2,754,272
				3,231,155
Food — 2.5%
General Mills, Inc.
2.875% due 4/15/2030		3,300,000		3,167,472
Kraft Heinz Foods Co.
3.75% due 4/1/2030		2,700,000		2,704,347
4.875% due 10/1/2049		500,000		527,155
Kroger Co.
1.70% due 1/15/2031		1,400,000		1,219,288
Post Holdings, Inc.
5.75% due 3/1/2027(1)		353,000		355,256
				7,973,518
Food Service — 0.5%
Aramark Services, Inc.
6.375% due 5/1/2025(1)		1,650,000		1,694,517
				1,694,517

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN TOTAL RETURN BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Healthcare-Products — 0.9%
Abbott Laboratories
4.75% due 11/30/2036	$	2,300,000	$	2,679,017
				2,679,017
Healthcare-Services — 0.2%
Surgery Center Holdings, Inc.
10.00% due 4/15/2027(1)		650,000		684,359
				684,359
Housewares — 0.6%
Newell Brands, Inc.
5.75% due 4/1/2046		900,000		940,689
SWF Escrow Issuer Corp.
6.50% due 10/1/2029(1)		1,250,000		1,070,938
				2,011,627
Insurance — 3.8%
Athene Holding Ltd.
3.50% due 1/15/2031		2,100,000		2,009,280
Chubb INA Holdings, Inc.
1.375% due 9/15/2030		4,900,000		4,269,027
CNA Financial Corp.
2.05% due 8/15/2030		4,705,000		4,166,089
Hartford Financial Services Group, Inc.
2.80% due 8/19/2029		1,700,000		1,617,125
				12,061,521
Internet — 0.7%
Expedia Group, Inc.
2.95% due 3/15/2031		2,330,000		2,161,984
				2,161,984
Leisure Time — 0.5%
Viking Cruises Ltd.
13.00% due 5/15/2025(1)		1,365,000		1,515,273
				1,515,273
Lodging — 0.7%
Marriott International, Inc.
2.85% due 4/15/2031		2,420,000		2,212,001
				2,212,001
Media — 4.4%
AMC Networks, Inc.
4.25% due 2/15/2029		2,000,000		1,867,240
Audacy Capital Corp.
6.75% due 3/31/2029(1)		500,000		466,920
Charter Communications Operating LLC / Charter Communications Operating Capital
2.30% due 2/1/2032		3,700,000		3,161,576
Comcast Corp.
2.45% due 8/15/2052		1,925,000		1,530,837
CSC Holdings LLC
5.75% due 1/15/2030(1)		500,000		445,350
7.50% due 4/1/2028(1)		1,500,000		1,473,990
Discovery Communications LLC
3.625% due 5/15/2030		800,000		777,208
iHeartCommunications, Inc.
5.25% due 8/15/2027(1)		1,900,000		1,880,221
Scripps Escrow, Inc.
5.875% due 7/15/2027(1)		325,000		325,471

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN TOTAL RETURN BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Media — (continued)
Sinclair Television Group, Inc.
5.50% due 3/1/2030(1)	$	1,750,000	$	1,519,175
Sirius XM Radio, Inc.
5.50% due 7/1/2029(1)		500,000		507,325
				13,955,313
Mining — 0.9%
Freeport-McMoRan, Inc.
4.25% due 3/1/2030		2,650,000		2,668,047
				2,668,047
Oil & Gas — 5.2%
Antero Resources Corp.
8.375% due 7/15/2026(1)		1,580,000		1,746,722
BP Capital Markets America, Inc.
3.06% due 6/17/2041		700,000		631,351
Cenovus Energy, Inc.
2.65% due 1/15/2032		3,000,000		2,715,660
4.25% due 4/15/2027		320,000		330,634
CITGO Petroleum Corp.
7.00% due 6/15/2025(1)		250,000		252,915
Hess Corp.
4.30% due 4/1/2027		6,800,000		6,985,436
Marathon Oil Corp.
4.40% due 7/15/2027		1,750,000		1,806,612
Ovintiv Exploration, Inc.
5.375% due 1/1/2026		1,600,000		1,696,912
PBF Holding Co. LLC / PBF Finance Corp.
6.00% due 2/15/2028		250,000		200,975
9.25% due 5/15/2025(1)		265,000		272,653
				16,639,870
Oil & Gas Services — 0.1%
TechnipFMC PLC
6.50% due 2/1/2026(1)		300,000		310,764
				310,764
Packaging & Containers — 0.2%
WRKCo, Inc.
3.00% due 6/15/2033		700,000		653,954
				653,954
Pharmaceuticals — 1.7%
AbbVie, Inc.
3.20% due 11/21/2029		1,000,000		988,110
4.25% due 11/21/2049		1,050,000		1,095,602
Bausch Health Cos., Inc.
5.25% due 1/30/2030(1)		190,000		149,581
6.125% due 4/15/2025(1)		1,345,000		1,355,504
Bristol Myers Squibb Co.
2.95% due 3/15/2032		1,300,000		1,274,078
3.70% due 3/15/2052		400,000		402,452
				5,265,327
Pipelines — 2.5%
Boardwalk Pipelines LP
3.40% due 2/15/2031		1,100,000		1,041,293
Kinder Morgan, Inc.
4.30% due 3/1/2028		2,300,000		2,385,652
ONEOK, Inc.
3.40% due 9/1/2029		1,000,000		962,820
4.45% due 9/1/2049		200,000		193,992

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN TOTAL RETURN BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Pipelines — (continued)
Targa Resources Partners LP / Targa Resources Partners Finance Corp.
4.00% due 1/15/2032	$	3,000,000	$	2,879,430
Williams Cos., Inc.
4.85% due 3/1/2048		300,000		320,259
				7,783,446
Real Estate Investment Trusts (REITs) — 4.7%
Alexandria Real Estate Equities, Inc.
2.95% due 3/15/2034		3,300,000		3,107,049
Essex Portfolio LP
2.65% due 3/15/2032		1,800,000		1,645,812
Life Storage LP
2.40% due 10/15/2031		3,300,000		2,913,768
Mid-America Apartments LP
1.70% due 2/15/2031		3,600,000		3,115,116
Simon Property Group LP
2.20% due 2/1/2031		4,500,000		4,057,470
				14,839,215
Retail — 0.6%
Michaels Cos., Inc.
7.875% due 5/1/2029(1)		275,000		234,440
PetSmart, Inc. / PetSmart Finance Corp.
7.75% due 2/15/2029(1)		1,500,000		1,549,020
				1,783,460
Semiconductors — 2.5%
NVIDIA Corp.
2.00% due 6/15/2031		5,400,000		4,936,842
NXP BV / NXP Funding LLC / NXP USA, Inc.
2.65% due 2/15/2032(1)		3,100,000		2,796,293
				7,733,135
Software — 1.7%
Electronic Arts, Inc.
1.85% due 2/15/2031		3,700,000		3,257,295
VMware, Inc.
2.20% due 8/15/2031		2,300,000		2,022,942
				5,280,237
Telecommunications — 5.0%
AT&T, Inc.
2.55% due 12/1/2033		2,700,000		2,401,812
3.50% due 9/15/2053		300,000		265,251
Frontier Communications Holdings LLC
5.00% due 5/1/2028(1)		1,000,000		962,350
Level 3 Financing, Inc.
4.625% due 9/15/2027(1)		1,000,000		943,370
Sprint Corp.
7.625% due 3/1/2026		500,000		564,655
T-Mobile USA, Inc.
2.70% due 3/15/2032(1)		1,000,000		910,330
3.40% due 10/15/2052(1)		200,000		170,842
4.75% due 2/1/2028		1,650,000		1,676,812
Telesat Canada / Telesat LLC
5.625% due 12/6/2026(1)		375,000		286,238
Verizon Communications, Inc.
2.355% due 3/15/2032(1)		4,400,000		3,978,084

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN TOTAL RETURN BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Corporate Bonds & Notes — (continued)
Telecommunications — (continued)
3.875% due 3/1/2052	$	500,000	$	503,350
Vodafone Group PLC
4.375% due 5/30/2028		3,150,000		3,302,176
				15,965,270
Transportation — 0.2%
Cargo Aircraft Management, Inc.
4.75% due 2/1/2028(1)		750,000		731,183
				731,183
Total Corporate Bonds & Notes (Cost $203,832,031)				191,280,780
Non-Agency Mortgage-Backed Securities — 7.6%
BANK
2019-BN24 AS
3.283% due 11/15/2062(2)(3)		1,413,000		1,377,183
BB-UBS Trust
2012-SHOW A
3.43% due 11/5/2036(1)		2,500,000		2,460,608
Citigroup Commercial Mortgage Trust
2014-GC21 A5
3.855% due 5/10/2047		1,330,000		1,342,588
2016-C3 AS
3.366% due 11/15/2049(2)(3)		1,125,000		1,094,503
Commercial Mortgage Trust
2013-LC6 AM
3.282% due 1/10/2046		2,500,000		2,520,420
Grace Trust
2020-GRCE C
2.68% due 12/10/2040(1)(2)(3)		1,100,000		974,799
GS Mortgage Securities Corp. II
2005-ROCK A
5.366% due 5/3/2032(1)		1,800,000		1,901,778
GS Mortgage Securities Trust
2013-GC16 A4
4.271% due 11/10/2046		750,000		758,051
Jackson Park Trust
2019-LIC B
2.914% due 10/14/2039(1)		680,000		616,147
Life Mortgage Trust
2021-BMR C
1.497% due 3/15/2038(1)(2)(3)		1,474,455		1,423,322
Morgan Stanley Capital I Trust
2020-L4 AS
2.88% due 2/15/2053		750,000		713,713
NYC Commercial Mortgage Trust
2021-909 C
3.206% due 4/10/2043(1)(2)(3)		580,000		517,195
ONE Park Mortgage Trust
2021-PARK B
1.347% due 3/15/2036(1)(2)(3)		500,000		482,521
SLG Office Trust
2021-OVA A
2.585% due 7/15/2041(1)		1,800,000		1,675,918
Stack Infrastructure Issuer LLC
2021-1A A2
1.877% due 3/26/2046(1)		1,250,000		1,154,556
Wells Fargo Commercial Mortgage Trust
2017-C42 B
4.002% due 12/15/2050(2)(3)		500,000		500,194
2018-AUS A
4.058% due 8/17/2036(1)(2)(3)		2,000,000		2,030,943

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN TOTAL RETURN BOND VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Non-Agency Mortgage-Backed Securities — (continued)
2021-SAVE A
1.547% due 2/15/2040(1)(2)(3)	$	1,181,728	$	1,170,095
WFRBS Commercial Mortgage Trust
2014-C19 AS
4.271% due 3/15/2047		1,500,000		1,513,114
Total Non-Agency Mortgage-Backed Securities (Cost $25,647,285)				24,227,648
U.S. Government Securities — 7.9%
U.S. Treasury Bond
2.25% due 8/15/2049		5,900,000		5,603,156
U.S. Treasury Note
0.25% due 10/31/2025		4,500,000		4,148,437
0.375% due 1/31/2026		2,000,000		1,842,813
0.625% due 5/15/2030		700,000		610,422
0.875% due 11/15/2030		2,200,000		1,949,063
1.25% due 5/31/2028		2,900,000		2,699,945
1.50% due 9/30/2024		5,150,000		5,028,492
1.625% due 5/15/2031		3,580,000		3,371,913
Total U.S. Government Securities (Cost $26,870,907)				25,254,241
	Shares		Value
Exchange-Traded Funds — 9.5%
Invesco Senior Loan ETF		467,125		10,169,311
SPDR Blackstone Senior Loan ETF		217,000		9,756,320
Vanguard Short-Term Inflation-Protected Securities ETF		200,000		10,242,000
Total Exchange–Traded Funds (Cost $30,544,739)				30,167,631
	Principal Amount		Value
Short-Term Investment — 0.5%
Repurchase Agreements — 0.5%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $1,459,416, due 4/1/2022(4)	$	1,459,416		1,459,416
Total Repurchase Agreements (Cost $1,459,416)				1,459,416
Total Investments(5) — 97.6% (Cost $326,896,037)				310,316,801
Assets in excess of other liabilities(6) — 2.4%				7,636,205
Total Net Assets — 100.0%			$	317,953,006

(1) Securities that may be resold in transactions exempt from registration under Rule 144A of the Securities Act of 1933, as amended, normally to certain qualified buyers. At March 31, 2022, the aggregate market value of these securities amounted to $93,552,752, representing 29.4% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Fund’s liquidity procedures approved by the Board of Trustees.

(2) Variable rate securities, which may include step-up bonds or adjustable rate mortgages. The rate shown is the rate in effect at March 31, 2022. (3) Variable coupon rate based on weighted average interest rate of underlying mortgages.

(4) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	1,323,400	$	1,488,647

(5) Securities are segregated to cover anticipated or existing derivative positions or to be announced securities (TBA).

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN TOTAL RETURN BOND VIP FUND

(6) Assets in excess of other liabilities include net unrealized depreciation on futures contracts and centrally cleared swap contracts as follows:

Open futures contracts at March 31, 2022:

Type	Expiration		Contracts		Position		Notional Amount			Notional Value			Unrealized Depreciation
U.S. 2-Year Treasury Note		June 2022		55		Long	$	11,702,054		$	11,655,703		$	(46,351	)
U.S. 10-Year Treasury Note		June 2022		61		Long		7,551,543			7,495,375			(56,168	)
U.S. Long Bond		June 2022		304		Long		46,850,536			45,619,000			(1,231,536	)
U.S. Ultra Bond		June 2022		87		Long		16,014,168			15,409,875			(604,293	)
Total							$	82,118,301		$	80,179,953		$	(1,938,348	)
Type	Expiration		Contracts		Position		Notional Amount			Notional Value			Unrealized Appreciation
U.S. Ultra 10-Year Treasury Note		June 2022		433		Short	$	(60,813,090	)	$	(58,657,969	)	$	2,155,121

Centrally cleared credit default swap agreements — buy protection⁽⁷⁾:

Reference Entity	Implied Credit Spread at 3/31/22(8)			Notional(9)		Maturity		(Pay)/Receive Fixed Rate			Periodic Payment Frequency	Upfront Payments Made			Value			Unrealized Depreciation
CDX.NA.HY.S38		3.76	%	USD	33,000,000		6/20/2027		(5.00	)%	Quarterly	$	(1,567,050	)	$	(1,819,415	)	$	(252,365	)

(7) When a credit event occurs as defined under the terms of the swap agreement, the Fund as a buyer of credit protection will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced obligation or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced obligation.

(8) Implied credit spread, represented in absolute terms, utilized in determining the value of the credit default swap agreements as of period end will serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a referenced entity reflects the cost of buying/selling protection and may include payments required to be made to enter into the agreement. Generally, wider credit spreads represent a perceived deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the swap agreement.

(9) The notional amount represents the maximum potential amount the Fund could receive as a buyer of credit protection if a credit event occurs, as defined under the terms of the swap agreement, for each security included in the CDX North America High Yield Index.

Legend:

CLO – Collateralized Loan Obligation

H15T5Y – 5-year Constant Maturity Treasury Rate

LIBOR – London Interbank Offered Rate

SOFR – Secured Overnight Financing Rate

USD – United States Dollar

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN TOTAL RETURN BOND VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1			Level 2			Level 3		Total
Asset-Backed Securities	$	—		$	37,927,085		$	—	$	37,927,085
Corporate Bonds & Notes		—			191,280,780			—		191,280,780
Non-Agency Mortgage-Backed Securities		—			24,227,648			—		24,227,648
U.S. Government Securities		—			25,254,241			—		25,254,241
Exchange-Traded Funds		30,167,631			—			—		30,167,631
Repurchase Agreements		—			1,459,416			—		1,459,416
Total	$	30,167,631		$	280,149,170		$	—	$	310,316,801
Other Financial Instruments
Futures Contracts
Assets	$	2,155,121		$	—		$	—	$	2,155,121
Liabilities		(1,938,348	)		—			—		(1,938,348	)
Swap Contracts
Liabilities		—			(252,365	)		—		(252,365	)
Total	$	216,773		$	(252,365	)	$	—	$	(35,592	)

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN U.S. GOVERNMENT SECURITIES VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Agency Mortgage-Backed Securities — 28.6%
Fannie Mae ACES
2015-M17 A2
2.874% due 11/25/2025(1)(2)	$	2,018,086	$	2,015,070
2016-M11 A2
2.369% due 7/25/2026(1)(2)		4,500,000		4,402,807
2019-M4 A2
3.61% due 2/25/2031		7,764,000		8,102,904
2021-M4 A2
1.466% due 2/25/2031(1)(2)		1,000,000		889,836
Freddie Mac Multifamily Structured Pass-Through Certificates
K026 A2
2.51% due 11/25/2022		2,861,610		2,867,318
K030 A2
3.25% due 4/25/2023(1)(2)		4,941,105		4,978,999
K032 A2
3.31% due 5/25/2023(1)(2)		2,490,000		2,513,876
K048 A2
3.284% due 6/25/2025(1)(2)		2,045,000		2,070,262
K053 A2
2.995% due 12/25/2025		2,225,000		2,234,269
K058 A2
2.653% due 8/25/2026		1,500,000		1,489,023
K065 A2
3.243% due 4/25/2027		1,300,000		1,324,753
K066 A2
3.117% due 6/25/2027		6,000,000		6,083,631
K073 A2
3.35% due 1/25/2028		4,277,000		4,397,551
K082 A2
3.92% due 9/25/2028(1)(2)		2,385,000		2,535,177
K099 A2
2.595% due 9/25/2029		6,000,000		5,916,372
K101 A2
2.524% due 10/25/2029		6,500,000		6,374,183
K124 A2
1.658% due 12/25/2030		4,200,000		3,818,746
K730 A2
3.59% due 1/25/2025(1)(2)		3,878,310		3,943,787
K740 A2
1.47% due 9/25/2027		5,000,000		4,656,237
Total Agency Mortgage-Backed Securities (Cost $74,883,748)				70,614,801
Asset-Backed Securities — 3.5%
Americredit Automobile Receivables Trust
2019-2 C
2.74% due 4/18/2025		1,500,000		1,498,644
BlueMountain CLO Ltd.
2014-2A BR2
2.004% (LIBOR 3 Month + 1.75%) due 10/20/2030(2)(3)		600,000		593,695
Enterprise Fleet Financing LLC
2020-1 A2
1.78% due 12/22/2025(3)		868,480		867,996
Hyundai Auto Lease Securitization Trust
2021-A B
0.61% due 10/15/2025(3)		2,000,000		1,948,203
NextGear Floorplan Master Owner Trust
2.80% due 3/15/2027(3)		1,750,000		1,721,029

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN U.S. GOVERNMENT SECURITIES VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Asset-Backed Securities — (continued)
Verizon Owner Trust
2020-A B
1.98% due 7/22/2024	$	1,000,000	$	994,353
Voya CLO Ltd.
2016-3A A3R
1.991% (LIBOR 3 Month + 1.75%) due 10/18/2031(2)(3)		925,000		915,010
Total Asset–Backed Securities (Cost $8,676,650)				8,538,930
Non-Agency Mortgage-Backed Securities — 13.1%
BAMLL Commercial Mortgage Securities Trust
2015-200P A
3.218% due 4/14/2033(3)		1,450,000		1,427,726
BB-UBS Trust
2012-SHOW A
3.43% due 11/5/2036(3)		1,000,000		984,243
CGRBS Commercial Mortgage Trust
2013-VN05 A
3.369% due 3/13/2035(3)		2,000,000		2,016,368
2013-VN05 B
3.584% due 3/13/2035(1)(2)(3)		6,500,000		6,560,819
Citigroup Commercial Mortgage Trust
2014-GC21 A5
3.855% due 5/10/2047		1,700,000		1,716,090
CityLine Commercial Mortgage Trust
2016-CLNE C
2.778% due 11/10/2031(1)(2)(3)		1,000,000		986,031
Commercial Mortgage Trust
2013-WWP B
3.726% due 3/10/2031(3)		3,075,000		3,117,196
2013-WWP C
3.544% due 3/10/2031(3)		3,500,000		3,543,155
2013-WWP D
3.898% due 3/10/2031(3)		1,767,000		1,792,880
2014-UBS3 A4
3.819% due 6/10/2047		1,550,000		1,561,842
2015-CR23 A4
3.497% due 5/10/2048		2,500,000		2,500,889
GS Mortgage Securities Corp. II
2005-ROCK A
5.366% due 5/3/2032(3)		1,700,000		1,796,124
GS Mortgage Securities Trust
2013-GC16 A4
4.271% due 11/10/2046		1,410,000		1,425,136
Hudson Yards Mortgage Trust
2016-10HY A
2.835% due 8/10/2038(3)		600,000		581,097
JP Morgan Chase Commercial Mortgage Securities Trust
2012-C6 A3
3.507% due 5/15/2045		194,705		194,653
ONE Park Mortgage Trust
2021-PARK A
1.097% due 3/15/2036(1)(2)(3)		500,000		488,539
Wells Fargo Commercial Mortgage Trust
2021-SAVE A
1.547% due 2/15/2040(1)(2)(3)		636,315		630,051

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN U.S. GOVERNMENT SECURITIES VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Non-Agency Mortgage-Backed Securities — (continued)
WFRBS Commercial Mortgage Trust
2014-C19 AS
4.271% due 3/15/2047	$	1,000,000	$	1,008,743
Total Non-Agency Mortgage-Backed Securities (Cost $33,285,453)				32,331,582
U.S. Government Agencies — 13.6%
Federal Farm Credit Banks Funding Corp.
1.21% due 3/3/2025		5,000,000		4,804,200
0.50% due 7/2/2025		4,100,000		3,826,448
0.125% due 4/13/2023		5,500,000		5,404,575
Federal Home Loan Bank
1.375% due 2/17/2023		6,490,000		6,477,604
2.50% due 12/9/2022		3,950,000		3,978,756
1.25% due 6/9/2028		5,500,000		5,062,090
0.875% due 6/12/2026		3,000,000		2,797,500
Federal National Mortgage Association
0.50% due 11/7/2025		1,300,000		1,207,973
Total U.S. Government Agencies (Cost $35,067,739)				33,559,146
U.S. Government Securities — 35.6%
U.S. Treasury Note
0.125% due 4/30/2023		7,350,000		7,219,078
0.375% due 1/31/2026		3,000,000		2,764,219
0.875% due 1/31/2024		1,200,000		1,169,531
0.875% due 11/15/2030		500,000		442,969
1.375% due 11/15/2031		15,300,000		14,040,141
1.50% due 9/30/2024		30,600,000		29,878,031
1.625% due 11/30/2026		26,300,000		25,309,641
2.00% due 4/30/2024		4,400,000		4,366,312
2.00% due 8/15/2025		2,650,000		2,603,211
Total U.S. Government Securities (Cost $91,806,240)				87,793,133
	Shares		Value
Exchange-Traded Funds — 4.1%
Vanguard Short-Term Inflation-Protected Securities ETF		195,000		9,985,950
Total Exchange-Traded Funds (Cost $9,920,450)				9,985,950
	Principal Amount		Value
Short-Term Investment — 0.6%
Repurchase Agreements — 0.6%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $1,438,780, due 4/1/2022(4)	$	1,438,780		1,438,780
Total Repurchase Agreements (Cost $1,438,780)				1,438,780
Total Investments(5) — 99.1% (Cost $255,079,060)				244,262,322
Assets in excess of other liabilities(6) — 0.9%				2,263,191
Total Net Assets — 100.0%			$	246,525,513

(1) Variable coupon rate based on weighted average interest rate of underlying mortgages.

(2) Variable rate securities, which may include step-up bonds or adjustable rate mortgages. The rate shown is the rate in effect at March 31, 2022.

(3) Securities that may be resold in transactions exempt from registration under Rule 144A of the Securities Act of 1933, as amended, normally to certain qualified buyers. At March 31, 2022, the aggregate market value of these securities amounted to $29,970,162, representing 12.2% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Fund’s liquidity procedures approved by the Board of Trustees.

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN U.S. GOVERNMENT SECURITIES VIP FUND

(4) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	1,304,700	$	1,467,612

(5) Securities are segregated to cover anticipated or existing derivative positions or to be announced securities (TBA).

(6) Assets in excess of other liabilities include net unrealized depreciation on futures contracts as follows:

Open futures contracts at March 31, 2022:

Type	Expiration		Contracts		Position		Notional Amount		Notional Value		Unrealized Depreciation
U.S. 5-Year Treasury Note		June 2022		279		Long	$	33,011,390	$	31,997,812	$	(1,013,578)
U.S. Ultra 10-Year Treasury Note		June 2022		175		Long		23,742,248		23,707,031		(35,217)
Total							$	56,753,638	$	55,704,843	$	(1,048,795)

Type	Expiration		Contracts		Position		Notional Amount		Notional Value		Unrealized   Appreciation
U.S. 2-Year Treasury Note		June 2022		116		Short	$	(24,726,276)	$	(24,582,937)	$	143,339
U.S. 10-Year Treasury Note		June 2022		89		Short		(11,323,616)		(10,935,875)		387,741
Total							$	(36,049,892)	$	(35,518,812)	$	531,080

Legend:

CLO – Collateralized Loan Obligation

LIBOR – London Interbank Offered Rate

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN U.S. GOVERNMENT SECURITIES VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1			Level 2		Level 3		Total
Agency Mortgage-Backed Securities	$	—		$	70,614,801	$	—	$	70,614,801
Asset-Backed Securities		—			8,538,930		—		8,538,930
Non-Agency Mortgage-Backed Securities		—			32,331,582		—		32,331,582
U.S. Government Agencies		—			33,559,146		—		33,559,146
U.S. Government Securities		—			87,793,133		—		87,793,133
Exchange-Traded Funds		9,985,950			—		—		9,985,950
Repurchase Agreements		—			1,438,780		—		1,438,780
Total	$	9,985,950		$	234,276,372	$	—	$	244,262,322
Other Financial Instruments
Futures Contracts
Assets	$	531,080		$	—	$	—	$	531,080
Liabilities		(1,048,795	)		—		—		(1,048,795	)
Total	$	(517,715	)	$	—	$	—	$	(517,715)

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN ALL CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 99.8%
Aerospace & Defense — 1.8%
Curtiss-Wright Corp.		364	$	54,658
General Dynamics Corp.		237		57,160
Howmet Aerospace, Inc.		2,463		88,520
L3Harris Technologies, Inc.		162		40,252
Northrop Grumman Corp.		165		73,791
Parsons Corp.(1)		685		26,510
Raytheon Technologies Corp.		1,858		184,072
				524,963
Auto Components — 0.4%
Aptiv PLC(1)		719		86,071
Magna International, Inc.		671		43,152
				129,223
Banks — 4.3%
Bank OZK		927		39,583
First Interstate BancSystem, Inc., Class A		1,823		67,032
JPMorgan Chase & Co.		3,036		413,867
PNC Financial Services Group, Inc.		1,376		253,803
Signature Bank		261		76,601
Truist Financial Corp.		5,353		303,515
United Community Banks, Inc.		1,837		63,928
				1,218,329
Beverages — 1.4%
Coca-Cola Co.		756		46,872
Coca-Cola Europacific Partners PLC		718		34,902
Constellation Brands, Inc., Class A		338		77,848
PepsiCo, Inc.		1,409		235,839
				395,461
Biotechnology — 1.1%
Biogen, Inc.(1)		341		71,814
Vertex Pharmaceuticals, Inc.(1)		977		254,968
				326,782
Building Products — 0.9%
AZEK Co., Inc.(1)		2,265		56,262
Johnson Controls International PLC		1,675		109,830
Masco Corp.		1,598		81,498
				247,590
Capital Markets — 3.3%
Charles Schwab Corp.		1,913		161,285
CME Group, Inc.		522		124,163
Invesco Ltd.		2,568		59,218
KKR & Co., Inc.		935		54,669
Moody’s Corp.		341		115,057
Morgan Stanley		2,238		195,601
Northern Trust Corp.		561		65,329
Raymond James Financial, Inc.		1,421		156,182
				931,504
Chemicals — 2.2%
Air Products and Chemicals, Inc.		243		60,728
Ashland Global Holdings, Inc.		763		75,087
Avient Corp.		1,249		59,952
Axalta Coating Systems Ltd.(1)		2,214		54,420
Chemours Co.		740		23,295
Diversey Holdings Ltd.(1)		7,458		56,457
DuPont de Nemours, Inc.		984		72,403
Element Solutions, Inc.		3,978		87,118
FMC Corp.		363		47,760

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN ALL CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Chemicals — (continued)
International Flavors & Fragrances, Inc.		330	$	43,339
Sherwin-Williams Co.		207		51,671
				632,230
Commercial Services & Supplies — 0.4%
GFL Environmental, Inc.		3,175		103,314
				103,314
Construction & Engineering — 0.2%
API Group Corp.(1)		2,741		57,643
				57,643
Construction Materials — 0.3%
Vulcan Materials Co.		426		78,256
				78,256
Consumer Finance — 0.3%
SLM Corp.		4,202		77,149
				77,149
Containers & Packaging — 0.2%
Ball Corp.		593		53,370
				53,370
Distributors — 0.6%
LKQ Corp.		3,565		161,887
				161,887
Diversified Consumer Services — 0.4%
Bright Horizons Family Solutions, Inc.(1)		515		68,335
Grand Canyon Education, Inc.(1)		563		54,673
				123,008
Diversified Financial Services — 0.2%
Voya Financial, Inc.		844		55,999
				55,999
Electric Utilities — 2.3%
American Electric Power Co., Inc.		619		61,758
Constellation Energy Corp.		459		25,819
Duke Energy Corp.		645		72,021
Evergy, Inc.		794		54,262
Exelon Corp.		1,377		65,586
NextEra Energy, Inc.		1,978		167,556
PG&E Corp.(1)		6,940		82,864
Pinnacle West Capital Corp.		141		11,012
Southern Co.		859		62,286
Xcel Energy, Inc.		883		63,726
				666,890
Electrical Equipment — 1.7%
AMETEK, Inc.		563		74,981
Eaton Corp. PLC		1,087		164,963
Generac Holdings, Inc.(1)		159		47,264
nVent Electric PLC		823		28,624
Regal Rexnord Corp.		472		70,224
Sensata Technologies Holding PLC(1)		2,095		106,531
				492,587
Electronic Equipment, Instruments & Components — 0.5%
Amphenol Corp., Class A		391		29,462
TE Connectivity Ltd.		235		30,780

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN ALL CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Electronic Equipment, Instruments & Components — (continued)
Zebra Technologies Corp., Class A(1)		211	$	87,291
				147,533
Energy Equipment & Services — 0.4%
Cactus, Inc., Class A		1,088		61,733
Schlumberger NV		1,629		67,294
				129,027
Entertainment — 1.6%
Electronic Arts, Inc.		1,228		155,354
ROBLOX Corp., Class A(1)		708		32,738
Walt Disney Co.(1)		1,871		256,626
Warner Music Group Corp., Class A		707		26,760
				471,478
Equity Real Estate Investment Trusts (REITs) — 3.1%
AvalonBay Communities, Inc.		370		91,897
Broadstone Net Lease, Inc.		2,621		57,085
Empire State Realty Trust, Inc., Class A		6,511		63,938
Equinix, Inc.		190		140,908
Extra Space Storage, Inc.		389		79,978
Innovative Industrial Properties, Inc.		179		36,767
Rayonier, Inc.		3,103		127,595
SBA Communications Corp.		447		153,813
STORE Capital Corp.		3,418		99,908
Sun Communities, Inc.		193		33,831
				885,720
Food & Staples Retailing — 0.5%
Walmart, Inc.		929		138,347
				138,347
Food Products — 1.3%
Archer-Daniels-Midland Co.		1,246		112,464
Hostess Brands, Inc.(1)		425		9,324
J.M. Smucker Co.		311		42,113
Mondelez International, Inc., Class A		2,669		167,560
Oatly Group AB, ADR(1)		5,435		27,229
				358,690
Health Care Equipment & Supplies — 3.7%
Align Technology, Inc.(1)		95		41,420
Becton Dickinson and Co.		964		256,424
Boston Scientific Corp.(1)		5,623		249,043
Envista Holdings Corp.(1)		1,405		68,437
Medtronic PLC		2,262		250,969
Quidel Corp.(1)		637		71,637
STERIS PLC		526		127,171
				1,065,101
Health Care Providers & Services — 2.6%
Cigna Corp.		1,294		310,055
Humana, Inc.		352		153,180
McKesson Corp.		958		293,273
				756,508
Hotels, Restaurants & Leisure — 2.1%
Booking Holdings, Inc.(1)		33		77,499
International Game Technology PLC		2,122		52,371
Las Vegas Sands Corp.(1)		379		14,732
Marriott International, Inc., Class A(1)		446		78,384
Starbucks Corp.		2,696		245,255

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN ALL CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Hotels, Restaurants & Leisure — (continued)
Wendy’s Co.		5,812	$	127,690
				595,931
Household Products — 1.1%
Colgate-Palmolive Co.		1,432		108,588
Kimberly-Clark Corp.		677		83,379
Procter & Gamble Co.		862		131,714
				323,681
Industrial Conglomerates — 1.0%
Honeywell International, Inc.		910		177,068
Roper Technologies, Inc.		217		102,474
				279,542
Insurance — 3.4%
Aon PLC, Class A		1,043		339,632
Arthur J Gallagher & Co.		1,000		174,600
Chubb Ltd.		865		185,023
Hartford Financial Services Group, Inc.		1,197		85,957
MetLife, Inc.		1,153		81,033
Primerica, Inc.		401		54,865
Reinsurance Group of America, Inc.		530		58,014
				979,124
Interactive Media & Services — 4.6%
Alphabet, Inc., Class A(1)		478		1,329,485
				1,329,485
Internet & Direct Marketing Retail — 3.8%
Amazon.com, Inc.(1)		330		1,075,784
Vivid Seats, Inc., Class A		1,707		18,879
				1,094,663
IT Services — 4.9%
Accenture PLC, Class A		588		198,291
Amdocs Ltd.		852		70,043
Block, Inc., Class A(1)		555		75,258
Cognizant Technology Solutions Corp., Class A		1,443		129,394
Fidelity National Information Services, Inc.		982		98,613
Fiserv, Inc.(1)		1,028		104,239
Global Payments, Inc.		617		84,430
PayPal Holdings, Inc.(1)		945		109,289
Thoughtworks Holding, Inc.(1)		3,003		62,493
Visa, Inc., Class A		2,082		461,725
				1,393,775
Life Sciences Tools & Services — 2.2%
Adaptive Biotechnologies Corp.(1)		1,342		18,627
ICON PLC(1)		496		120,637
Illumina, Inc.(1)		157		54,856
Maravai LifeSciences Holdings, Inc., Class A(1)		5,459		192,539
Oxford Nanopore Technologies PLC (United Kingdom)(1)		1,772		9,179
Syneos Health, Inc.(1)		965		78,117
Thermo Fisher Scientific, Inc.		255		150,616
				624,571
Machinery — 1.3%
Dover Corp.		488		76,567
Ingersoll Rand, Inc.		2,082		104,829
Otis Worldwide Corp.		612		47,093
PACCAR, Inc.		1,529		134,659
				363,148

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN ALL CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Media — 1.1%
Altice USA, Inc., Class A(1)		3,906	$	48,747
Cable One, Inc.		15		21,963
Discovery, Inc., Class C(1)		4,306		107,521
Liberty Broadband Corp., Class C(1)		1,090		147,499
				325,730
Multi-Utilities — 0.5%
CenterPoint Energy, Inc.		3,150		96,516
Dominion Energy, Inc.		508		43,165
				139,681
Multiline Retail — 1.2%
Dollar General Corp.		783		174,320
Dollar Tree, Inc.(1)		975		156,146
				330,466
Oil, Gas & Consumable Fuels — 3.2%
Cheniere Energy, Inc.		399		55,321
Chevron Corp.		2,508		408,378
ConocoPhillips		1,555		155,500
Diamondback Energy, Inc.		606		83,071
Enterprise Products Partners LP		2,077		53,607
Hess Corp.		832		89,057
Valero Energy Corp.		729		74,023
				918,957
Pharmaceuticals — 4.9%
Eli Lilly and Co.		974		278,924
Johnson & Johnson		2,434		431,378
Merck & Co., Inc.		4,482		367,748
Organon & Co.		3,101		108,318
Zoetis, Inc.		1,200		226,308
				1,412,676
Professional Services — 0.7%
CACI International, Inc., Class A(1)		106		31,934
Clarivate PLC(1)		8,201		137,449
Leidos Holdings, Inc.		324		34,998
				204,381
Road & Rail — 1.3%
Canadian Pacific Railway Ltd.		2,824		233,093
CSX Corp.		3,689		138,153
				371,246
Semiconductors & Semiconductor Equipment — 5.0%
Advanced Micro Devices, Inc.(1)		1,594		174,288
Analog Devices, Inc.		714		117,938
Applied Materials, Inc.		1,437		189,397
Broadcom, Inc.		466		293,431
Intel Corp.		2,348		116,367
Lam Research Corp.		229		123,113
Monolithic Power Systems, Inc.		159		77,223
NXP Semiconductors NV		829		153,431
Texas Instruments, Inc.		966		177,242
				1,422,430
Software — 11.5%
Adobe, Inc.(1)		689		313,922
Atlassian Corp. PLC, Class A(1)		623		183,056
Avalara, Inc.(1)		568		56,522
Black Knight, Inc.(1)		743		43,087
Cadence Design Systems, Inc.(1)		1,465		240,934

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN ALL CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Software — (continued)
Microsoft Corp.		5,639	$	1,738,560
Nice Ltd., ADR(1)		416		91,104
Ping Identity Holding Corp.(1)		1,319		36,180
Rapid7, Inc.(1)		779		86,656
salesforce.com, Inc.(1)		1,294		274,742
ServiceNow, Inc.(1)		437		243,361
				3,308,124
Specialty Retail — 1.7%
Burlington Stores, Inc.(1)		209		38,073
Home Depot, Inc.		1,055		315,793
Ross Stores, Inc.		1,445		130,715
				484,581
Technology Hardware, Storage & Peripherals — 6.7%
Apple, Inc.		10,928		1,908,138
				1,908,138
Textiles, Apparel & Luxury Goods — 0.4%
NIKE, Inc., Class B		568		76,430
Skechers USA, Inc., Class A(1)		1,202		48,994
				125,424
Tobacco — 0.4%
Philip Morris International, Inc.		1,296		121,746
				121,746
Wireless Telecommunication Services — 1.1%
T-Mobile US, Inc.(1)		2,419		310,479
				310,479
Total Investments — 99.8% (Cost $29,572,870)				28,596,568
Assets in excess of other liabilities — 0.2%				47,127
Total Net Assets — 100.0%			$	28,643,695

(1) Non–income–producing security.

Legend:

ADR – American Depositary Receipt

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN ALL CAP CORE VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2			Level 3		Total
Common Stocks	$	28,587,389	$	9,179	*	$	—	$	28,596,568
Total	$	28,587,389	$	9,179		$	—	$	28,596,568

* Consists of certain foreign securities whose values were determined by a pricing service using pricing models (See Notes to Schedule of Investments). These investments in securities were classified as Level 2 rather than Level 1.

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SELECT MID CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 96.9%
Aerospace & Defense — 1.1%
Curtiss-Wright Corp.		18,700	$	2,807,992
				2,807,992
Auto Components — 1.3%
Adient PLC(1)		31,054		1,266,072
Lear Corp.		13,221		1,885,182
				3,151,254
Automobiles — 0.8%
Aston Martin Lagonda Global Holdings PLC (United Kingdom)(1)(2)		15,852		202,703
Harley-Davidson, Inc.		42,834		1,687,660
				1,890,363
Banks — 5.9%
Associated Banc-Corp		66,511		1,513,790
BankUnited, Inc.		3,200		140,672
East West Bancorp, Inc.		29,900		2,362,698
First Horizon Corp.		88,174		2,071,207
Metropolitan Bank Holding Corp.(1)		11,200		1,139,824
PacWest Bancorp		83,101		3,584,146
Pinnacle Financial Partners, Inc.		19,200		1,767,936
Piraeus Financial Holdings SA (Greece)(1)		126,400		196,686
Silvergate Capital Corp., Class A(1)		3,422		515,251
Wintrust Financial Corp.		14,770		1,372,576
				14,664,786
Beverages — 0.2%
Boston Beer Co., Inc., Class A(1)		1,395		541,916
				541,916
Biotechnology — 1.3%
Argenx SE, ADR(1)		2,800		882,868
Exelixis, Inc.(1)		80,000		1,813,600
TG Therapeutics, Inc.(1)		50,000		475,500
				3,171,968
Building Products — 0.3%
Builders FirstSource, Inc.(1)		9,803		632,686
				632,686
Capital Markets — 0.5%
Lazard Ltd., Class A		16,612		573,114
Patria Investments Ltd., Class A		42,143		750,567
				1,323,681
Chemicals — 2.4%
Chemours Co.		55,996		1,762,754
RPM International, Inc.		21,553		1,755,277
Trinseo PLC		24,011		1,150,607
Valvoline, Inc.		45,270		1,428,721
				6,097,359
Commercial Services & Supplies — 2.0%
Brink’s Co.		12,396		842,928
CoreCivic, Inc.(1)		208,814		2,332,452
GEO Group, Inc.(1)		267,555		1,768,539
				4,943,919
Construction & Engineering — 5.2%
AECOM		46,172		3,546,471
API Group Corp.(1)		111,587		2,346,675
Fluor Corp.(1)		139,301		3,996,546

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SELECT MID CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Construction & Engineering — (continued)
Granite Construction, Inc.		81,221	$	2,664,049
MDU Resources Group, Inc.		20,571		548,217
				13,101,958
Construction Materials — 0.8%
Eagle Materials, Inc.		15,917		2,043,106
				2,043,106
Consumer Finance — 0.9%
FirstCash Holdings, Inc.		8,698		611,818
OneMain Holdings, Inc.		36,869		1,747,959
				2,359,777
Containers & Packaging — 0.5%
Berry Global Group, Inc.(1)		20,800		1,205,568
				1,205,568
Distributors — 0.4%
LKQ Corp.		22,511		1,022,224
				1,022,224
Diversified Consumer Services — 0.1%
Frontdoor, Inc.(1)		4,200		125,370
				125,370
Diversified Financial Services — 0.4%
Cairo Mezz PLC (Cyprus)(1)		639,200		102,467
Cannae Holdings, Inc.(1)		35,571		850,859
				953,326
Diversified Telecommunication Services — 0.1%
Iridium Communications, Inc.(1)		7,992		322,237
				322,237
Electric Utilities — 1.1%
IDACORP, Inc.		4,707		543,000
OGE Energy Corp.		37,519		1,530,025
PNM Resources, Inc.		12,341		588,295
				2,661,320
Electrical Equipment — 1.2%
GrafTech International Ltd.		4,326		41,616
Sensata Technologies Holding PLC(1)		55,628		2,828,684
Vertiv Holdings Co.		3,800		53,200
				2,923,500
Electronic Equipment, Instruments & Components — 2.8%
Avnet, Inc.		52,411		2,127,362
Cognex Corp.		26,749		2,063,685
Trimble, Inc.(1)		15,283		1,102,516
TTM Technologies, Inc.(1)		59,345		879,493
Vishay Intertechnology, Inc.		17,328		339,629
Vontier Corp.		14,444		366,733
				6,879,418
Energy Equipment & Services — 0.3%
Liberty Oilfield Services, Inc., Class A(1)		43,332		642,180
				642,180

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SELECT MID CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Entertainment — 0.3%
Endeavor Group Holdings, Inc., Class A(1)		6,883	$	203,186
Liberty Media Corp-Liberty Formula One, Class C(1)		3,778		263,855
Warner Music Group Corp., Class A		4,915		186,033
				653,074
Equity Real Estate Investment Trusts (REITs) — 8.8%
American Homes 4 Rent, Class A		40,945		1,639,028
CubeSmart		37,179		1,934,423
DigitalBridge Group, Inc.(1)		108,100		778,320
Douglas Emmett, Inc.		47,840		1,598,813
EastGroup Properties, Inc.		12,500		2,541,000
Equity LifeStyle Properties, Inc.		21,707		1,660,151
Gaming and Leisure Properties, Inc.		17,439		818,412
Lamar Advertising Co., Class A		12,381		1,438,425
Postal Realty Trust, Inc., Class A		82,558		1,388,626
Ryman Hospitality Properties, Inc.(1)		13,700		1,270,949
SITE Centers Corp.		83,054		1,387,832
Spirit Realty Capital, Inc.		27,980		1,287,640
Terreno Realty Corp.		14,130		1,046,326
Ventas, Inc.		39,113		2,415,619
Washington Real Estate Investment Trust		26,647		679,499
				21,885,063
Food & Staples Retailing — 1.5%
BJ’s Wholesale Club Holdings, Inc.(1)		18,762		1,268,499
Casey’s General Stores, Inc.		1,494		296,066
Grocery Outlet Holding Corp.(1)		16,211		531,397
Performance Food Group Co.(1)		12,806		651,953
Sprouts Farmers Market, Inc.(1)		8,273		264,570
US Foods Holding Corp.(1)		16,589		624,244
				3,636,729
Food Products — 1.4%
Bunge Ltd.		2,336		258,852
Darling Ingredients, Inc.(1)		20,472		1,645,540
Freshpet, Inc.(1)		985		101,101
Greencore Group PLC (Ireland)(1)		49,149		82,762
Ingredion, Inc.		7,308		636,892
Lamb Weston Holdings, Inc.		563		33,729
Nomad Foods Ltd.(1)		13,800		311,604
Post Holdings, Inc.(1)		3,678		254,738
Sovos Brands, Inc.(1)		9,161		129,903
TreeHouse Foods, Inc.(1)		3,012		97,167
				3,552,288
Gas Utilities — 1.0%
National Fuel Gas Co.		9,243		634,994
Northwest Natural Holding Co.		7,526		389,245
ONE Gas, Inc.		6,561		578,942
Southwest Gas Holdings, Inc.(1)		11,900		931,651
				2,534,832
Health Care Equipment & Supplies — 3.1%
Hologic, Inc.(1)		15,000		1,152,300
Masimo Corp.(1)		10,000		1,455,400
Nanosonics Ltd. (Australia)(1)		250,000		732,244
Penumbra, Inc.(1)		11,800		2,621,134
Tandem Diabetes Care, Inc.(1)		16,200		1,883,898
				7,844,976

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SELECT MID CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Health Care Providers & Services — 2.7%
agilon health, Inc.(1)		50,000	$	1,267,500
Alignment Healthcare, Inc.(1)		84,000		943,320
LHC Group, Inc.(1)		8,000		1,348,800
Molina Healthcare, Inc.(1)		5,800		1,934,822
Oak Street Health, Inc.(1)		50,000		1,344,000
				6,838,442
Hotels, Restaurants & Leisure — 3.8%
Aramark		29,677		1,115,855
Brinker International, Inc.(1)		15,100		576,216
Caesars Entertainment, Inc.(1)		33,101		2,560,693
Darden Restaurants, Inc.		4,883		649,195
Domino’s Pizza, Inc.		2,332		949,147
Planet Fitness, Inc., Class A(1)		6,300		532,224
Vail Resorts, Inc.		3,876		1,008,807
Wyndham Hotels & Resorts, Inc.		24,485		2,073,635
				9,465,772
Household Durables — 1.8%
Leggett & Platt, Inc.		23,161		806,003
Mohawk Industries, Inc.(1)		9,371		1,163,878
NVR, Inc.(1)		272		1,215,097
Taylor Morrison Home Corp.(1)		48,349		1,316,060
				4,501,038
Household Products — 0.3%
Energizer Holdings, Inc.		13,250		407,570
Reynolds Consumer Products, Inc.		4,862		142,651
Spectrum Brands Holdings, Inc.		3,465		307,415
				857,636
Insurance — 3.5%
American Financial Group, Inc.		13,419		1,954,075
Assurant, Inc.		10,424		1,895,396
Globe Life, Inc.		14,000		1,408,400
Primerica, Inc.		15,587		2,132,613
Talanx AG (Germany)		7,563		335,635
Unum Group		29,500		929,545
				8,655,664
Interactive Media & Services — 0.3%
NerdWallet, Inc., Class A(1)		20,300		243,397
TripAdvisor, Inc.(1)		5,062		137,281
Ziff Davis, Inc.(1)		3,600		348,408
				729,086
Internet & Direct Marketing Retail — 0.1%
Farfetch Ltd., Class A(1)		14,682		221,992
				221,992
IT Services — 3.3%
Akamai Technologies, Inc.(1)		12,289		1,467,184
Cyxtera Technologies, Inc.(1)		53,613		655,151
ExlService Holdings, Inc.(1)		6,715		962,058
GoDaddy, Inc., Class A(1)		16,832		1,408,838
LiveRamp Holdings, Inc.(1)		9,827		367,432
Nuvei Corp. (Canada)(1)(2)		2,313		173,917
Repay Holdings Corp.(1)		36,625		540,951
Thoughtworks Holding, Inc.(1)		1,000		20,810
WEX, Inc.(1)		8,970		1,600,696
Wix.com Ltd.(1)		10,175		1,062,880
				8,259,917

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SELECT MID CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Life Sciences Tools & Services — 0.6%
Bruker Corp.		24,500	$	1,575,350
				1,575,350
Machinery — 1.2%
Allison Transmission Holdings, Inc.		56,876		2,232,952
Crane Co.		2,190		237,133
Flowserve Corp.		16,500		592,350
				3,062,435
Marine — 2.2%
Genco Shipping & Trading Ltd.		109,916		2,596,216
Golden Ocean Group Ltd.		39,077		483,773
Kirby Corp.(1)		25,104		1,812,258
Navios Maritime Partners LP		2,500		88,000
Star Bulk Carriers Corp.		15,545		461,531
				5,441,778
Media — 1.1%
Cable One, Inc.		604		884,401
Gray Television, Inc.		6,700		147,869
Interpublic Group of Cos., Inc.		11,304		400,727
Liberty Media Corp-Liberty SiriusXM, Class A(1)		2,020		92,334
New York Times Co., Class A		13,908		637,543
Nexstar Media Group, Inc., Class A		2,155		406,174
S4 Capital PLC (United Kingdom)(1)		19,992		75,058
				2,644,106
Metals & Mining — 2.8%
Cleveland-Cliffs, Inc.(1)		72,649		2,340,024
Steel Dynamics, Inc.		42,762		3,567,634
Yamana Gold, Inc.		216,433		1,207,696
				7,115,354
Mortgage Real Estate Investment Trusts (REITs) — 0.8%
New Residential Investment Corp.		189,443		2,080,084
				2,080,084
Multi-Utilities — 0.6%
Black Hills Corp.		11,542		888,965
NiSource, Inc.		15,479		492,232
				1,381,197
Multiline Retail — 0.3%
Nordstrom, Inc.		28,616		775,780
				775,780
Oil, Gas & Consumable Fuels — 3.6%
APA Corp.		20,467		845,901
Coterra Energy, Inc.		25,512		688,059
Denbury, Inc.(1)		5,262		413,435
DHT Holdings, Inc.		169,020		980,316
EQT Corp.		48,720		1,676,455
Euronav NV (Belgium)		103,579		1,105,680
HF Sinclair Corp.(1)		26,390		1,051,642
Targa Resources Corp.		30,275		2,284,854
				9,046,342
Paper & Forest Products — 0.7%
Louisiana-Pacific Corp.		26,553		1,649,472
				1,649,472

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SELECT MID CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Personal Products — 0.5%
Beauty Health Co.(1)		66,400	$	1,120,832
BellRing Brands, Inc.(1)		4,662		107,599
Herbalife Nutrition Ltd.(1)		2,862		86,890
				1,315,321
Pharmaceuticals — 0.5%
Royalty Pharma PLC, Class A		32,000		1,246,720
				1,246,720
Professional Services — 2.3%
CACI International, Inc., Class A(1)		5,238		1,578,000
Nielsen Holdings PLC		152,901		4,165,023
				5,743,023
Real Estate Management & Development — 1.3%
Doma Holdings, Inc.(1)		153,537		333,175
Jones Lang LaSalle, Inc.(1)		8,259		1,977,700
WeWork, Inc., Class A(1)		154,100		1,050,962
				3,361,837
Road & Rail — 1.1%
Knight-Swift Transportation Holdings, Inc.		55,310		2,790,943
				2,790,943
Semiconductors & Semiconductor Equipment — 1.7%
ON Semiconductor Corp.(1)		28,860		1,806,925
SolarEdge Technologies, Inc.(1)		7,720		2,488,696
				4,295,621
Software — 6.4%
Anaplan, Inc.(1)		25,209		1,639,845
Aspen Technology, Inc.(1)		7,736		1,279,302
AvidXchange Holdings, Inc.(1)		843		6,786
Black Knight, Inc.(1)		9,402		545,222
Blackbaud, Inc.(1)		23,837		1,427,121
Blend Labs, Inc., Class A(1)		4,000		22,800
Braze, Inc., Class A(1)		300		12,441
BTRS Holdings, Inc., Class 1(1)		49,500		370,260
Ceridian HCM Holding, Inc.(1)		21,346		1,459,212
Citrix Systems, Inc.		7,533		760,080
Coupa Software, Inc.(1)		4,968		504,898
Elastic NV(1)		12,728		1,132,156
Guidewire Software, Inc.(1)		7,128		674,451
NortonLifeLock, Inc.		50,603		1,341,992
PTC, Inc.(1)		15,526		1,672,461
Tenable Holdings, Inc.(1)		31,673		1,830,383
Zendesk, Inc.(1)		9,967		1,198,930
				15,878,340
Specialty Retail — 1.1%
Burlington Stores, Inc.(1)		3,864		703,905
Camping World Holdings, Inc., Class A		10,400		290,680
Five Below, Inc.(1)		11,694		1,851,979
				2,846,564
Technology Hardware, Storage & Peripherals — 0.3%
Western Digital Corp.(1)		16,338		811,182
				811,182

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SELECT MID CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Textiles, Apparel & Luxury Goods — 2.5%
Capri Holdings Ltd.(1)		37,656	$	1,935,142
PRADA SpA (Italy)		113,900		719,969
PVH Corp.		18,643		1,428,240
Tapestry, Inc.		61,704		2,292,304
				6,375,655
Thrifts & Mortgage Finance — 1.0%
MGIC Investment Corp.		184,831		2,504,460
				2,504,460
Trading Companies & Distributors — 2.3%
Beacon Roofing Supply, Inc.(1)		15,950		945,516
MRC Global, Inc.(1)		277,625		3,306,514
NOW, Inc.(1)		129,378		1,427,039
				5,679,069
Water Utilities — 0.5%
Essential Utilities, Inc.		25,505		1,304,071
				1,304,071
Total Common Stocks (Cost $249,471,904)				242,027,121
	Principal Amount		Value
Short-Term Investments — 2.8%
U.S. Treasury Bills — 0.1%
U.S. Treasury Bill
0.174% due 5/12/2022	$	130,000		129,974
0.366% due 6/9/2022		50,000		49,965
Total U.S. Treasury Bills (Cost $179,922)				179,939
Repurchase Agreements — 2.7%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $6,837,235, due 4/1/2022(3)		6,837,235		6,837,235
Total Repurchase Agreements (Cost $6,837,235)				6,837,235
Total Investments(4) — 99.7% (Cost $256,489,061)				249,044,295
Assets in excess of other liabilities(5) — 0.3%				680,905
Total Net Assets — 100.0%			$	249,725,200

(1) Non–income–producing security.

(2) Securities that may be resold in transactions exempt from registration under Rule 144A of the Securities Act of 1933, as amended, normally to certain qualified buyers. At March 31, 2022, the aggregate market value of these securities amounted to $376,620, representing 0.2% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Fund’s liquidity procedures approved by the Board of Trustees.

(3) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		4.25	%		11/15/2040	$	5,593,900	$	6,974,021

(4) Securities are segregated to cover anticipated or existing derivative positions or to be announced securities (TBA).

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SELECT MID CAP CORE VIP FUND

(5) Assets in excess of other liabilities include net unrealized depreciation on futures contracts as follows:

Open futures contracts at March 31, 2022:

Type	Expiration		Contracts	Position	Notional Amount		Notional Value		Unrealized Depreciation
S&P Midcap 400 E-Mini		June 2022	6	Long	$	1,652,358	$	1,613,520	$	(38,838	)
Total					$	1,652,358	$	1,613,520	$	(38,838	)

Legend:

ADR – American Depositary Receipt

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SELECT MID CAP CORE VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1			Level 2			Level 3		Total
Common Stocks	$	238,473,917		$	3,553,204	*	$	—	$	242,027,121
U.S. Treasury Bills		—			179,939			—		179,939
Repurchase Agreements		—			6,837,235			—		6,837,235
Total	$	238,473,917		$	10,570,378		$	—	$	249,044,295
Other Financial Instruments
Futures Contracts
Liabilities	$	(38,838	)	$	—		$	—	$	(38,838	)
Total	$	(38,838	)	$	—		$	—	$	(38,838	)

^*  Consists of certain foreign securities whose values were determined by a pricing service using pricing models (See Notes to Schedule of Investments). These investments in securities were classified as Level 2 rather than Level 1.

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SMALL-MID CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 98.0%
Aerospace & Defense — 1.5%
MTU Aero Engines AG (Germany)		22,613	$	5,254,052
				5,254,052
Auto Components — 1.2%
Dana, Inc.		247,574		4,349,875
				4,349,875
Banks — 2.3%
Pinnacle Financial Partners, Inc.		37,630		3,464,970
Webster Financial Corp.		83,608		4,692,081
				8,157,051
Biotechnology — 0.5%
Neurocrine Biosciences, Inc.(1)		15,119		1,417,406
Sage Therapeutics, Inc.(1)		16,040		530,924
				1,948,330
Building Products — 8.1%
Advanced Drainage Systems, Inc.		27,003		3,208,227
Armstrong World Industries, Inc.		62,054		5,585,481
AZEK Co., Inc.(1)		141,512		3,515,158
Carlisle Cos., Inc.		32,675		8,035,436
Masonite International Corp.(1)		66,147		5,883,114
Tecnoglass, Inc.		101,814		2,569,785
				28,797,201
Capital Markets — 2.1%
Cboe Global Markets, Inc.		34,695		3,969,802
Raymond James Financial, Inc.		30,800		3,385,228
				7,355,030
Chemicals — 4.4%
Ashland Global Holdings, Inc.		63,029		6,202,684
Quaker Chemical Corp.		20,549		3,551,073
Westlake Corp.		48,923		6,037,098
				15,790,855
Commercial Services & Supplies — 3.3%
IAA, Inc.(1)		120,976		4,627,332
Republic Services, Inc.		31,037		4,112,402
Stericycle, Inc.(1)		53,877		3,174,433
				11,914,167
Construction & Engineering — 1.0%
API Group Corp.(1)		164,460		3,458,594
				3,458,594
Containers & Packaging — 1.2%
Crown Holdings, Inc.		33,893		4,239,675
				4,239,675
Diversified Consumer Services — 0.7%
Service Corp. International		37,616		2,475,885
				2,475,885
Electrical Equipment — 4.1%
Atkore, Inc.(1)		72,815		7,167,909
Regal Rexnord Corp.		29,313		4,361,188
Sensata Technologies Holding PLC(1)		63,700		3,239,145
				14,768,242

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SMALL-MID CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Electronic Equipment, Instruments & Components — 1.6%
Teledyne Technologies, Inc.(1)		12,402	$	5,861,557
				5,861,557
Equity Real Estate Investment Trusts (REITs) — 8.1%
American Homes 4 Rent, Class A		136,341		5,457,730
Life Storage, Inc.		29,198		4,100,275
SBA Communications Corp.		17,000		5,849,700
Sun Communities, Inc.		41,530		7,279,794
VICI Properties, Inc.		214,787		6,112,838
				28,800,337
Food Products — 1.3%
Nomad Foods Ltd.(1)		200,636		4,530,361
				4,530,361
Health Care Equipment & Supplies — 4.0%
Haemonetics Corp.(1)		47,563		3,006,933
Integer Holdings Corp.(1)		54,155		4,363,268
LivaNova PLC(1)		85,429		6,990,655
				14,360,856
Health Care Providers & Services — 3.1%
HealthEquity, Inc.(1)		82,177		5,542,017
Humana, Inc.		12,750		5,548,417
				11,090,434
Health Care Technology — 0.5%
Schrodinger, Inc.(1)		51,307		1,750,595
				1,750,595
Hotels, Restaurants & Leisure — 1.3%
Planet Fitness, Inc., Class A(1)		56,121		4,741,102
				4,741,102
Household Durables — 1.0%
Mohawk Industries, Inc.(1)		27,931		3,469,030
				3,469,030
Household Products — 1.1%
Church & Dwight Co., Inc.		38,420		3,818,180
				3,818,180
Insurance — 5.5%
Arch Capital Group Ltd.(1)		131,917		6,387,421
Axis Capital Holdings Ltd.		95,937		5,801,310
CNO Financial Group, Inc.		116,319		2,918,444
Reinsurance Group of America, Inc.		41,493		4,541,824
				19,648,999
Interactive Media & Services — 0.8%
Bumble, Inc., Class A(1)		93,388		2,706,384
				2,706,384
Internet & Direct Marketing Retail — 2.3%
RealReal, Inc.(1)		286,126		2,077,275
Revolve Group, Inc.(1)		117,990		6,334,883
				8,412,158
IT Services — 2.2%
Evo Payments, Inc., Class A(1)		194,540		4,491,929
Genpact Ltd.		74,351		3,235,012
				7,726,941

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SMALL-MID CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Life Sciences Tools & Services — 3.9%
Azenta, Inc.		42,762	$	3,544,114
Bio-Rad Laboratories, Inc., Class A(1)		12,046		6,784,669
Codexis, Inc.(1)		56,123		1,157,256
Sotera Health Co.(1)		113,824		2,465,428
				13,951,467
Machinery — 1.2%
Ingersoll Rand, Inc.		84,547		4,256,941
				4,256,941
Metals & Mining — 1.6%
Steel Dynamics, Inc.		69,853		5,827,836
				5,827,836
Personal Products — 1.5%
elf Beauty, Inc.(1)		149,914		3,872,279
Honest Co., Inc.(1)		277,068		1,443,524
				5,315,803
Professional Services — 2.2%
Booz Allen Hamilton Holding Corp.		45,812		4,024,126
Dun & Bradstreet Holdings, Inc.(1)		215,760		3,780,115
				7,804,241
Semiconductors & Semiconductor Equipment — 3.5%
Marvell Technology, Inc.		76,555		5,489,759
ON Semiconductor Corp.(1)		114,006		7,137,916
				12,627,675
Software — 12.0%
8x8, Inc.(1)		203,028		2,556,123
Black Knight, Inc.(1)		75,564		4,381,956
Fair Isaac Corp.(1)		9,806		4,574,107
Instructure Holdings, Inc.(1)		185,936		3,729,876
New Relic, Inc.(1)		32,565		2,177,947
PagerDuty, Inc.(1)		164,668		5,629,999
Q2 Holdings, Inc.(1)		70,961		4,374,746
Riskified Ltd., Class A(1)		104,153		629,084
SPS Commerce, Inc.(1)		28,732		3,769,638
WalkMe Ltd.(1)		265,160		4,001,265
Zendesk, Inc.(1)		57,991		6,975,737
				42,800,478
Specialty Retail — 4.2%
Burlington Stores, Inc.(1)		22,545		4,107,023
National Vision Holdings, Inc.(1)		86,049		3,749,155
Tractor Supply Co.		9,619		2,244,786
Ulta Beauty, Inc.(1)		12,487		4,972,573
				15,073,537
Textiles, Apparel & Luxury Goods — 1.0%
Deckers Outdoor Corp.(1)		12,705		3,478,248
				3,478,248
Thrifts & Mortgage Finance — 0.9%
Essent Group Ltd.		77,147		3,179,228
				3,179,228

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SMALL-MID CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Trading Companies & Distributors — 2.8%
Air Lease Corp.		98,076	$	4,379,094
United Rentals, Inc.(1)		15,596		5,539,855
				9,918,949
Total Common Stocks (Cost $379,546,660)				349,660,294
Exchange–Traded Funds — 1.0%
SPDR S&P Biotech ETF		40,091		3,603,379
Total Exchange–Traded Funds (Cost $4,898,833)				3,603,379
	Principal Amount		Value
Short-Term Investment — 1.2%
Repurchase Agreements — 1.2%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $4,247,030, due 4/1/2022(2)	$	4,247,030		4,247,030
Total Repurchase Agreements (Cost $4,247,030)				4,247,030
Total Investments — 100.2% (Cost $388,692,523)				357,510,703
Liabilities in excess of other assets — (0.2)%				(620,189	)
Total Net Assets — 100.0%			$	356,890,514

(1) Non–income–producing security.

(2) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	3,851,200	$	4,332,081

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN SMALL-MID CAP CORE VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2			Level 3		Total
Common Stocks	$	344,406,242	$	5,254,052	*	$	—	$	349,660,294
Exchange-Traded Funds		3,603,379		—			—		3,603,379
Repurchase Agreements		—		4,247,030			—		4,247,030
Total	$	348,009,621	$	9,501,082		$	—	$	357,510,703

^*  Consists of certain foreign securities whose values were determined by a pricing service using pricing models (See Notes to Schedule of Investments). These investments in securities were classified as Level 2 rather than Level 1.

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN STRATEGIC LARGE CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — 96.2%
Aerospace & Defense — 1.9%
Northrop Grumman Corp.		14,524	$	6,495,423
				6,495,423
Banks — 1.9%
JPMorgan Chase & Co.		36,330		4,952,506
U.S. Bancorp		29,020		1,542,413
				6,494,919
Beverages — 1.9%
Coca-Cola Co.		103,729		6,431,198
				6,431,198
Biotechnology — 1.9%
AbbVie, Inc.		39,523		6,407,074
				6,407,074
Building Products — 0.5%
Allegion PLC		14,260		1,565,463
				1,565,463
Capital Markets — 5.1%
CME Group, Inc.		17,020		4,048,377
Houlihan Lokey, Inc.		38,280		3,360,984
Intercontinental Exchange, Inc.		33,307		4,400,521
S&P Global, Inc.		13,140		5,389,765
				17,199,647
Chemicals — 0.4%
Sherwin-Williams Co.		5,429		1,355,187
				1,355,187
Communications Equipment — 0.4%
Motorola Solutions, Inc.		5,000		1,211,000
				1,211,000
Construction & Engineering — 0.7%
AECOM		28,820		2,213,664
				2,213,664
Diversified Consumer Services — 0.5%
Service Corp. International		27,228		1,792,147
				1,792,147
Diversified Telecommunication Services — 1.2%
Verizon Communications, Inc.		79,980		4,074,181
				4,074,181
Electric Utilities — 2.8%
Alliant Energy Corp.		66,402		4,148,797
American Electric Power Co., Inc.		50,995		5,087,771
				9,236,568
Electrical Equipment — 0.4%
Generac Holdings, Inc.(1)		4,570		1,358,478
				1,358,478
Electronic Equipment, Instruments & Components — 1.1%
CDW Corp.		19,830		3,547,389
				3,547,389
Entertainment — 0.9%
Electronic Arts, Inc.		24,228		3,065,084
				3,065,084

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN STRATEGIC LARGE CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Equity Real Estate Investment Trusts (REITs) — 1.0%
American Campus Communities, Inc.		18,330	$	1,025,930
Sun Communities, Inc.		13,060		2,289,288
				3,315,218
Food & Staples Retailing — 3.2%
Koninklijke Ahold Delhaize NV, ADR		127,734		4,114,312
Walmart, Inc.		44,610		6,643,321
				10,757,633
Food Products — 0.5%
General Mills, Inc.		26,632		1,803,519
				1,803,519
Health Care Providers & Services — 3.3%
Anthem, Inc.		7,419		3,644,361
UnitedHealth Group, Inc.		14,439		7,363,457
				11,007,818
Household Products — 1.9%
Colgate-Palmolive Co.		15,470		1,173,090
Procter & Gamble Co.		34,730		5,306,744
				6,479,834
Insurance — 4.9%
Everest Re Group Ltd.		10,900		3,285,042
Marsh & McLennan Cos., Inc.		22,108		3,767,645
Progressive Corp.		44,340		5,054,317
Selective Insurance Group, Inc.		20,425		1,825,178
Willis Towers Watson PLC		10,915		2,578,341
				16,510,523
Interactive Media & Services — 5.5%
Alphabet, Inc., Class C(1)		5,590		15,612,814
Meta Platforms, Inc., Class A(1)		13,513		3,004,751
				18,617,565
Internet & Direct Marketing Retail — 2.5%
Amazon.com, Inc.(1)		2,591		8,446,530
				8,446,530
IT Services — 8.3%
Amdocs Ltd.		20,280		1,667,219
Automatic Data Processing, Inc.		11,300		2,571,202
Fidelity National Information Services, Inc.		47,879		4,808,009
Genpact Ltd.		65,380		2,844,684
Mastercard, Inc., Class A		9,053		3,235,361
Paychex, Inc.		54,630		7,455,356
Visa, Inc., Class A		23,810		5,280,344
				27,862,175
Life Sciences Tools & Services — 1.4%
Thermo Fisher Scientific, Inc.		7,830		4,624,790
				4,624,790
Machinery — 0.4%
Oshkosh Corp.		14,840		1,493,646
				1,493,646
Media — 0.8%
Comcast Corp., Class A		56,620		2,650,948
				2,650,948

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN STRATEGIC LARGE CAP CORE VIP FUND

March 31, 2022 (unaudited)	Shares		Value
Common Stocks — (continued)
Multi-Utilities — 2.1%
Ameren Corp.		56,625	$	5,309,160
CenterPoint Energy, Inc.		56,925		1,744,182
				7,053,342
Oil, Gas & Consumable Fuels — 1.3%
Shell PLC, ADR		80,530		4,423,513
				4,423,513
Pharmaceuticals — 5.3%
Eli Lilly and Co.		13,130		3,760,038
Johnson & Johnson		16,040		2,842,769
Merck & Co., Inc.		71,380		5,856,729
Roche Holding AG, ADR		106,070		5,240,919
				17,700,455
Professional Services — 1.7%
Booz Allen Hamilton Holding Corp.		44,450		3,904,488
RELX PLC, ADR		59,080		1,837,388
				5,741,876
Semiconductors & Semiconductor Equipment — 4.6%
Analog Devices, Inc.		18,100		2,989,758
Broadcom, Inc.		10,326		6,502,076
KLA Corp.		7,520		2,752,771
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		16,044		1,672,748
Texas Instruments, Inc.		7,440		1,365,091
				15,282,444
Software — 13.6%
Adobe, Inc.(1)		8,299		3,781,190
Microsoft Corp.		81,620		25,164,262
NortonLifeLock, Inc.		206,500		5,476,380
Oracle Corp.		84,934		7,026,590
ServiceNow, Inc.(1)		3,091		1,721,347
VMware, Inc., Class A		22,919		2,609,787
				45,779,556
Specialty Retail — 5.6%
AutoZone, Inc.(1)		4,361		8,916,413
Home Depot, Inc.		12,960		3,879,317
O’Reilly Automotive, Inc.(1)		8,578		5,875,587
				18,671,317
Technology Hardware, Storage & Peripherals — 4.0%
Apple, Inc.		76,109		13,289,392
				13,289,392
Textiles, Apparel & Luxury Goods — 0.5%
Deckers Outdoor Corp.(1)		5,673		1,553,097
				1,553,097
Tobacco — 2.2%
Altria Group, Inc.		54,011		2,822,075
Philip Morris International, Inc.		47,930		4,502,544
				7,324,619
Total Common Stocks (Cost $321,353,411)				322,837,232

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN STRATEGIC LARGE CAP CORE VIP FUND

March 31, 2022 (unaudited)	Principal Amount		Value
Short–Term Investment — 3.8%
Repurchase Agreements — 3.8%
Fixed Income Clearing Corp., 0.00%, dated 3/31/2022, proceeds at maturity value of $12,805,621, due 4/1/2022(2)	$	12,805,621	$	12,805,621
Total Repurchase Agreements (Cost $12,805,621)				12,805,621
Total Investments — 100.0% (Cost $334,159,032)				335,642,853
Liabilities in excess of other assets — (0.0)%				(33,801	)
Total Net Assets — 100.0%			$	335,609,052

(1) Non–income–producing security.

(2) The table below presents collateral for repurchase agreements.

Security	Coupon			Maturity Date		Principal Amount		Value
U.S. Treasury Bond		3.125	%		5/15/2048	$	11,611,900	$	13,061,824

Legend:

ADR – American Depositary Receipt

See accompanying Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS

GUARDIAN STRATEGIC LARGE CAP CORE VIP FUND

The following is a summary of the inputs used as of March 31, 2022 in valuing the Fund’s investments. For more information on valuation inputs, please refer to the Fair Value Measurements section of the accompanying Notes to Schedule of Investments.

	— Valuation Inputs —
Investments in Securities (unaudited)	Level 1		Level 2		Level 3		Total
Common Stocks	$	322,837,232	$	—	$	—	$	322,837,232
Repurchase Agreements		—		12,805,621		—		12,805,621
Total	$	322,837,232	$	12,805,621	$	—	$	335,642,853

See accompanying Notes to Schedule of Investments.

Notes to Schedule of Investments (unaudited)

Restricted and Illiquid Securities

A restricted security cannot be resold to the general public without prior registration under the Securities Act of 1933, as amended (except pursuant to an applicable exemption). The values of these securities may be highly volatile. If the security is subsequently registered and resold, the issuer would typically bear the expense of all registrations at no cost to a Fund. Restricted and illiquid securities are valued according to the policies and procedures adopted by the Trust’s Board of Trustees and are noted, if any, in the Funds’ Schedule of Investments. As of March 31, 2022, Guardian Core Plus Fixed Income VIP Fund held two illiquid securities, and Guardian Diversified Research VIP Fund, Guardian Global Utilities VIP Fund and Guardian International Equity VIP Fund each held one illiquid security.

Fair Value Measurements

In accordance with Financial Accounting Standards Board (“FASB”) Codification Topic 820 (“ASC Topic 820”), fair value is defined as the price that the Fund would receive upon selling an investment in an “arm’s length” transaction to a willing buyer in the principal or most advantageous market for the investment. ASC Topic 820 established a hierarchy for classification of fair value measurements for disclosure purposes. Observable inputs are inputs that 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 are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. The hierarchy of inputs is summarized in the three broad levels listed below.

• Level 1 — unadjusted inputs using quoted prices in active markets for identical investments.

• Level 2 — other significant observable inputs, including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risks, etc.) or other market corroborated inputs.

• Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).

Inputs may include price information, volatility statistics, specific and broad credit data, liquidity statistics, and other factors. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input; both individually and in aggregate, that is significant to the fair value measurement. However, the determination of what constitutes “observable” requires significant judgment by the Trust. The Trust considers observable data to be that market data which is readily available, regularly distributed or updated, reliable and verifiable, and provided by independent sources that are actively involved in the relevant market. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers into or out of a financial instrument’s assigned level within the hierarchy.

The FASB requires reporting entities to make disclosures about purchases, sales, issuances and settlements of Level 3 securities on a gross basis. As of March 31, 2022, there were no transfers into or out of Level 3 of the fair value hierarchy.

The Funds’ policy is to recognize transfers between Level 1, Level 2 and Level 3 at the end of the reporting period. Transfers between Levels 1 and 2 related to certain exchange-traded foreign securities whose prices may have been affected by events occurring after the close of trading on the exchange and, as a result, whose value were determined by a pricing service using pricing models in accordance with methods approved by the Funds’ Board of Trustees. Transfers between Levels 2 and 3 relate to securities which have significant unobservable inputs, as they trade infrequently or not at all.

In determining a financial instrument’s placement within the hierarchy, the Trust separates the Funds’ investment portfolios into two categories: investments and derivatives (e.g., futures). A summary of inputs used to value the Funds’ assets and liabilities carried at fair value as of March 31, 2022 is included in the Schedule of Investments.

Investments Investments whose values are based on quoted market prices in active markets, and are therefore classified within Level 1, include active listed equities. Investments that trade in markets that are not considered to be active, but are valued based on quoted market prices, dealer quotations or alternative pricing sources supported by observable inputs are classified within Level 2. These include certain U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, state, municipal and provincial obligations, and certain foreign equity securities, including securities whose prices may have been affected by events occurring after the close of trading on their principal exchange or market and, as a result, whose values are determined by a pricing service as described above, or securities whose values are otherwise determined using fair valuation methods approved by the Funds’ Board of Trustees.

Investments classified within Level 3 have significant unobservable inputs, as they trade infrequently or not at all. Level 3 investments include, among others, private placement securities. When observable prices are not available for these securities, the Trust uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the Trust in estimating the value of Level 3 investments include, for example, the original transaction price, recent transactions in the same or similar instruments, completed or pending third-party transactions in the underlying investment or comparable issuers, subsequent rounds of financing, recapitalizations, and other transactions across the capital structure. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Trust in the absence of market information. Assumptions used by the Trust due to the lack of observable inputs may significantly impact the resulting fair value and therefore the Funds’ results of operations. As of March 31, 2022, Guardian International Equity VIP Fund held one security classified as Level 3.

Derivatives Exchange-traded derivatives, such as futures contracts, exchange-traded option contracts and certain swaps, are typically classified within Level 1 or Level 2 of the fair value hierarchy depending on whether or not they are deemed to be actively traded. Certain non-exchange-traded derivatives, such as generic forwards, certain swaps and options, have inputs which can generally be corroborated by market data and are therefore classified within Level 2. During the period ended March 31, 2022, Guardian Core Plus Fixed Income VIP Fund, Guardian Multi-Sector Bond VIP Fund, Guardian Total Return Bond VIP Fund and Guardian U.S. Government Securities VIP Fund entered into U.S. Treasury futures contracts to manage portfolio duration. During the period ended March 31, 2022, Guardian Select Mid Cap Core VIP Fund entered into equity futures contracts to equitize cash and keep the Fund fully invested. During the period ended March 31, 2022, Guardian Multi-Sector Bond VIP Fund and Guardian Total Return Bond VIP Fund entered into credit default swaps for risk exposure management and to enhance potential return.

For information about the Funds’ policy regarding valuation of investments and other significant accounting policies, please see the Funds’ most recent annual report to shareholders filed on the Securities and Exchange Commission’s website at https://www.sec.gov.