Investment objective & strategy
As of April 29, 2025 · prospectusObjective. The Portfolio seeks to provide long-term capital appreciation and income.
Strategy. Vanguard Variable Insurance Funds Diversified Value Portfolio (the Portfolio) invests mainly in large- and mid-capitalization companies whose stocks are considered by an advisor to be undervalued. Undervalued stocks are generally those that are out of favor with investors and that the advisor believes are trading at prices that are below average in relation to measures such as earnings and book value. These stocks often have above-average dividend yields. The Portfolio uses multiple investment advisors. Each advisor independently selects and maintains a portfolio of common stocks for the Portfolio. Vanguard Variable Insurance Funds Diversified Value Portfolio (the Portfolio) invests mainly in large- and mid-capitalization companies whose stocks are considered by an advisor to be undervalued. Undervalued stocks are generally those that are out of favor with investors and that the advisor believes are trading at prices that are below average in relation to measures such as earnings and book value. These stocks often have above-average dividend yields. The Portfolio uses multiple investment advisors. Each advisor independently selects and maintains a portfolio of common stocks for the Portfolio.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Vanguard Market Liquidity Fund | — | $53.78M | 3.85% |
| AMERICAN INTERNATIONAL GROUP | — | $33.13M | 2.37% |
| CORTEVA INC | — | $28.21M | 2.02% |
| SALESFORCE INC | — | $26.02M | 1.86% |
| APA CORP | — | $25.52M | 1.83% |
| WORKDAY INC CL A | — | $25.39M | 1.82% |
| F5 INC | — | $25.23M | 1.81% |
| WELLS FARGO & CO | — | $24.16M | 1.73% |
| COMCAST CORP CL A | — | $22.02M | 1.58% |
| US BANCORP DEL | — | $21.56M | 1.54% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| VANGUARD WINDSOR II FUND · VWNFX, VWNAX | 73% | 0.24% |
| Hotchkis and Wiley Large Cap Disciplined Value Fund · HWCIX, HWCAX, HWCCX | 46% | 0.80% |
| Natixis Oakmark Fund · NEFOX, NECOX, NEOYX, NOKTX, NOANX | 42% | 0.73% |
Advisers
| Firm | Role |
|---|---|
| Hotchkis and Wiley Capital Management, LLC | Adviser |
| Lazard Asset Management LLC | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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