NPORT-EX 2 NPORT_LNXE_46005878_0921.htm
LVIP Delaware SMID Cap Core Fund
Schedule of Investments
September 30, 2021 (unaudited)
    Number of
Shares 		Value
(U.S. $)
COMMON STOCK–99.31%
Aerospace & Defense–0.61%
BWX Technologies
  78,586 $  4,232,642
      4,232,642
Airlines–0.78%
†Allegiant Travel
  27,487   5,373,159
      5,373,159
Auto Components–0.70%
BorgWarner
  112,822   4,875,039
      4,875,039
Banks–8.27%
Comerica
  68,977 5,552,649
East West Bancorp
  120,394 9,335,351
First Horizon National
  264,432 4,307,597
Independent Bank Group
  53,279 3,784,940
SouthState
  66,773 4,985,940
Sterling Bancorp
  210,216 5,246,991
Umpqua Holdings
  302,784 6,131,376
Valley National Bancorp
  364,155 4,846,903
Webster Financial
  128,327 6,988,689
Western Alliance Bancorp
  55,487 6,038,095
      57,218,531
Biotechnology–7.49%
†Agios Pharmaceuticals
  76,157 3,514,646
†Amicus Therapeutics
  314,099 2,999,645
†Biohaven Pharmaceutical Holding
  36,497 5,069,798
†Blueprint Medicines
  64,684 6,650,162
†Exact Sciences
  20,725 1,978,201
†Halozyme Therapeutics
  123,009 5,004,006
†Insmed
  114,331 3,148,676
†Ligand Pharmaceuticals
  42,159 5,873,592
†Natera
  56,313 6,275,521
†Neurocrine Biosciences
  61,753 5,922,730
†Ultragenyx Pharmaceutical
  59,877 5,400,307
      51,837,284
Building Products–1.57%
Carlisle
  15,280 3,037,511
Zurn Water Solution
  121,728 7,825,893
      10,863,404
Capital Markets–1.46%
Hamilton Lane Class A
  30,744 2,607,706
Stifel Financial
  110,518 7,510,803
      10,118,509
Chemicals–2.51%
Balchem
  17,555 2,546,704
Huntsman
  254,819 7,540,094
Minerals Technologies
  103,819 7,250,719
      17,337,517
Commercial Services & Supplies–1.79%
ABM Industries
  92,230 4,151,271
†Casella Waste Systems Class A
  36,750 2,790,795
Tetra Tech
  22,660 3,384,044
    Number of
Shares 		Value
(U.S. $)
COMMON STOCK (continued)
Commercial Services & Supplies (continued)
†US Ecology
  64,236 $  2,078,035
      12,404,145
Communications Equipment–0.32%
†NETGEAR
  68,888   2,198,216
      2,198,216
Construction & Engineering–3.58%
†Ameresco Class A
  51,009   2,980,456
†MasTec
  46,009 3,969,656
Quanta Services
  96,913 11,030,638
†WillScot Mobile Mini Holdings
  214,138 6,792,457
      24,773,207
Consumer Finance–0.36%
†LendingTree
  18,047 2,523,512
      2,523,512
Containers & Packaging–0.66%
WestRock
  91,483 4,558,598
      4,558,598
Diversified Consumer Services–0.48%
†Chegg
  49,110 3,340,462
      3,340,462
Electrical Equipment–0.43%
†Generac Holdings
  7,199 2,942,015
      2,942,015
Electronic Equipment, Instruments & Components–0.76%
†II-VI
  88,205 5,235,849
      5,235,849
Energy Equipment & Services–0.07%
Patterson-UTI Energy
  55,110 495,990
      495,990
Entertainment–0.41%
†Cinemark Holdings
  146,434 2,812,997
      2,812,997
Equity Real Estate Investment Trusts–6.59%
American Assets Trust
  51,545 1,928,814
Brixmor Property Group
  227,670 5,033,784
Camden Property Trust
  48,696 7,181,199
Cousins Properties
  151,921 5,665,134
†DiamondRock Hospitality
  238,196 2,250,952
First Industrial Realty Trust
  85,842 4,470,651
Kite Realty Group Trust
  149,224 3,038,201
Lexington Realty Trust
  272,489 3,474,235
Life Storage
  46,895 5,380,732
Pebblebrook Hotel Trust
  145,420 3,258,862
Physicians Realty Trust
  222,609 3,922,371
      45,604,935
Food & Staples Retailing–1.55%
†BJ's Wholesale Club Holdings
  64,420 3,537,946
LVIP Delaware SMID Cap Core Fund–1

 

LVIP Delaware SMID Cap Core Fund
Schedule of Investments (continued)
    Number of
Shares 		Value
(U.S. $)
COMMON STOCK (continued)
Food & Staples Retailing (continued)
Casey's General Stores
  37,989 $  7,159,027
      10,696,973
Food Products–0.86%
J & J Snack Foods
  39,035   5,965,329
      5,965,329
Gas Utilities–1.21%
South Jersey Industries
  179,829   3,823,164
Spire
  73,848 4,518,021
      8,341,185
Health Care Equipment & Supplies–0.50%
†Quidel
  24,569 3,467,914
      3,467,914
Health Care Providers & Services–0.87%
Encompass Health
  80,580 6,046,723
      6,046,723
Health Care Technology–0.66%
†Inspire Medical Systems
  19,542 4,550,941
      4,550,941
Hotels, Restaurants & Leisure–3.59%
Aramark
  181,171 5,953,279
†Brinker International
  76,950 3,774,398
†Chuy's Holdings
  62,404 1,967,598
Jack in the Box
  46,289 4,505,308
Texas Roadhouse
  47,855 4,370,597
Wendy's
  198,511 4,303,719
      24,874,899
Household Durables–2.37%
†Helen of Troy
  14,450 3,246,626
KB Home
  72,760 2,831,819
La-Z-Boy
  73,741 2,376,673
†Taylor Morrison Home
  102,413 2,640,207
Toll Brothers
  95,596 5,285,503
      16,380,828
Insurance–3.54%
Axis Capital Holdings
  103,029 4,743,455
Kemper
  66,655 4,451,888
Primerica
  37,894 5,821,655
Reinsurance Group of America
  42,511 4,729,774
Selective Insurance Group
  62,700 4,735,731
      24,482,503
Interactive Media & Services–0.56%
†Bumble Class A
  562 28,089
†Yelp
  102,812 3,828,719
      3,856,808
IT Services–2.48%
†ExlService Holdings
  78,155 9,622,444
†WNS Holdings
  91,890 7,516,602
      17,139,046
    Number of
Shares 		Value
(U.S. $)
COMMON STOCK (continued)
Leisure Products–1.61%
†Malibu Boats Class A
  96,954 $  6,784,841
†YETI Holdings
  50,989   4,369,247
      11,154,088
Life Sciences Tools & Services–3.73%
Bio-Techne
  15,889   7,699,333
†ICON
  25,507   6,683,344
†NeoGenomics
  68,650   3,311,676
†Repligen
  28,169 8,140,559
      25,834,912
Machinery–4.24%
Barnes Group
  38,761 1,617,496
Columbus McKinnon
  24,211 1,170,602
ESCO Technologies
  30,598 2,356,046
Federal Signal
  67,570 2,609,553
†Gates Industrial
  140,599 2,287,546
Graco
  57,636 4,032,791
Kadant
  14,888 3,038,641
Lincoln Electric Holdings
  35,594 4,584,151
Oshkosh
  49,524 5,069,772
Woodward
  22,793 2,580,168
      29,346,766
Media–0.91%
Interpublic Group
  171,428 6,286,265
      6,286,265
Metals & Mining–3.17%
Kaiser Aluminum
  66,542 7,250,416
Reliance Steel & Aluminum
  61,855 8,809,389
Worthington Industries
  111,888 5,896,498
      21,956,303
Multi-Utilities–1.15%
Black Hills
  61,112 3,835,389
NorthWestern
  72,527 4,155,797
      7,991,186
Oil, Gas & Consumable Fuels–3.06%
Diamondback Energy
  176,489 16,708,213
PDC Energy
  93,735 4,442,102
      21,150,315
Paper & Forest Products–0.51%
Neenah
  74,972 3,494,445
      3,494,445
Pharmaceuticals–1.75%
†Catalent
  68,865 9,163,866
†Supernus Pharmaceuticals
  111,103 2,963,117
      12,126,983
Professional Services–2.79%
†ASGN
  64,023 7,243,562
Jacobs Engineering Group
  51,927 6,881,886
KBR
  95,770 3,773,338
†Upwork
  31,535 1,420,021
      19,318,807
 
LVIP Delaware SMID Cap Core Fund–2

 

LVIP Delaware SMID Cap Core Fund
Schedule of Investments (continued)
    Number of
Shares 		Value
(U.S. $)
COMMON STOCK (continued)
Road & Rail–1.79%
Knight-Swift Transportation Holdings
  165,325 $  8,456,374
Werner Enterprises
  89,025   3,941,137
      12,397,511
Semiconductors & Semiconductor Equipment–3.93%
Brooks Automation
  48,427   4,956,503
†Ichor Holdings
  34,801   1,429,973
†MACOM Technology Solutions Holdings
  71,025   4,607,392
†MaxLinear
  124,097 6,111,777
†ON Semiconductor
  76,723 3,511,612
†Semtech
  59,932 4,672,898
†Silicon Laboratories
  13,462 1,886,834
      27,176,989
Software–6.24%
†Blackline
  19,177 2,264,037
†Box Class A
  76,589 1,812,862
†Guidewire Software
  30,283 3,599,740
†J2 Global
  47,508 6,490,543
†Medallia
  104,858 3,551,540
†Paycom Software
  3,904 1,935,408
†PTC
  65,136 7,802,641
†Rapid7
  49,679 5,614,720
†Sprout Social Class A
  23,399 2,853,508
SS&C Technologies Holdings
  43,094 2,990,724
†Tyler Technologies
  3,077 1,411,266
†Varonis Systems
  46,302 2,817,477
      43,144,466
Specialty Retail–3.45%
American Eagle Outfitters
  229,224 5,913,979
    Number of
Shares 		Value
(U.S. $)
COMMON STOCK (continued)
Specialty Retail (continued)
Dick's Sporting Goods
  75,357 $  9,025,508
†Five Below
  42,747   7,558,097
Sonic Automotive Class A
  26,526   1,393,676
      23,891,260
Textiles, Apparel & Luxury Goods–1.08%
Steven Madden
  186,538   7,491,366
      7,491,366
Thrifts & Mortgage Finance–1.85%
Essent Group
  121,646 5,353,640
†NMI Holdings Class A
  148,231 3,351,503
WSFS Financial
  79,870 4,098,130
      12,803,273
Trading Companies & Distributors–1.02%
Boise Cascade
  74,876 4,041,807
†WESCO International
  26,395 3,043,871
      7,085,678
Total Common Stock

(Cost $471,840,205)
687,199,773
    
       
MONEY MARKET FUND–0.89%
State Street Institutional U.S. Government Money Market Fund -Premier Class (seven-day effective yield 0.03%)
  6,117,863   6,117,863
Total Money Market Fund

(Cost $6,117,863)
6,117,863
    
 
TOTAL INVESTMENTS–100.20% (Cost $477,958,068)
693,317,636
LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.20%)
(1,357,705)
NET ASSETS APPLICABLE TO 26,805,259 SHARES OUTSTANDING–100.00%
$691,959,931
    
† Non-income producing.
    
Summary of Abbreviations:
IT–Information Technology
See accompanying notes.
LVIP Delaware SMID Cap Core Fund–3

 

LVIP Delaware SMID Cap Core Fund
Notes
September 30, 2021 (unaudited)
1. Significant Accounting Policies
Lincoln Variable Insurance Products Trust (“LVIP” or the “Trust”)–LVIP Delaware SMID Cap Core Fund (the “Fund”) is an investment company in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). Therefore, the Fund follows the accounting and reporting guidelines for investment companies. The following accounting policies are in accordance with U.S. GAAP and are consistently followed by the Fund.
Security Valuation–Equity securities, except those traded on The Nasdaq Stock Market LLC (“Nasdaq”), are valued at the last quoted sales price as of the time of the regular close of the New York Stock Exchange on the valuation date. Equity securities traded on Nasdaq are valued in accordance with the Nasdaq Official Closing Price, which may not be the last sale price. If on a particular day an equity security does not trade, then the mean between the bid and ask prices is used, which approximates fair value.   Securities listed on a foreign exchange are valued at the last quoted sales price on the valuation date.   Open-end investment companies are valued at their published net asset value (“NAV”).   Investments in government money market funds have a stable NAV.   Other securities and assets for which market quotations are not reliable or readily available are generally valued at fair value as determined in good faith under policies adopted by the Fund’s Board of Trustees. In determining whether market quotations are reliable or readily available, various factors are taken into consideration, such as market closures or suspension of trading in a security.   The Fund may use fair value pricing more frequently for securities traded primarily in non-U.S. markets because, among other things, most foreign markets close well before the Fund values its securities, generally as of 4:00 p.m. Eastern Time. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, government actions or pronouncements, aftermarket trading, or news events may have occurred in the interim. To account for this, the Fund may value foreign securities using fair value prices based on third-party vendor modeling tools (“international fair value pricing”).
2. Investments
U.S. GAAP defines fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. A three level hierarchy for fair value measurements has been established based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed based on the best information available under the circumstances. Each investment in its entirety is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three level hierarchy of inputs is summarized below.
Level 1– inputs are quoted prices in active markets for identical investments (e.g., equity securities, open-end investment companies, futures contracts, options contracts)
Level 2– other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs) (e.g., debt securities, government securities, swap contracts, foreign currency exchange contracts, foreign securities utilizing international fair value pricing)
Level 3– inputs are significant unobservable inputs (including the Fund's own assumptions used to determine the fair value of investments) (e.g., indicative quotes from brokers, fair valued securities)
The following table summarizes the valuation of the Fund's investments by fair value hierarchy levels as of September 30, 2021:
  Level 1   Level 2   Level 3   Total
Investments:              
Assets:
             
Common Stock
$687,199,773   $—   $—   $687,199,773
Money Market Fund
6,117,863   —   —   6,117,863
Total Investments
$693,317,636   $—   $—   $693,317,636
There were no Level 3 investments at the beginning or end of the period.
LVIP Delaware SMID Cap Core Fund–4