Investment objective & strategy
As of April 29, 2025 · prospectusObjective. The Portfolio seeks to provide an above-average level of current income and reasonable long-term capital appreciation.
Strategy. Vanguard Variable Insurance Funds Equity Income Portfolio (the Portfolio) invests mainly in common stocks of mid-size and large companies whose stocks typically pay above-average levels of dividend income and are, in the opinion of the purchasing advisor, undervalued relative to similar stocks. In addition, the advisors generally look for companies that they believe are committed to paying dividends consistently. Under normal circumstances, the Portfolio will invest at least 80% of its assets in equity securities. The Portfolio uses two investment advisors. Each advisor independently selects and maintains a portfolio of common stocks for the Portfolio. Vanguard Variable Insurance Funds Equity Income Portfolio (the Portfolio) invests mainly in common stocks of mid-size and large companies whose stocks typically pay above-average levels of dividend income and are, in the opinion of the purchasing advisor, undervalued relative to similar stocks. In addition, the advisors generally look for companies that they believe are committed to paying dividends consistently. Under normal circumstances, the Portfolio will invest at least 80% of its assets in equity securities. The Portfolio uses two 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 |
|---|---|---|---|
| BROADCOM INC | — | $129.87M | 5.48% |
| MERCK & CO | — | $59.56M | 2.51% |
| JOHNSON&JOHNSON | — | $56.15M | 2.37% |
| Vanguard Market Liquidity Fund | — | $55.60M | 2.34% |
| BANK OF AMERICA CORPORATION | — | $51.15M | 2.16% |
| CISCO SYSTEMS INC | — | $47.68M | 2.01% |
| DIAMONDBACK ENERGY INC | — | $37.61M | 1.59% |
| HONEYWELL INTL INC | — | $35.08M | 1.48% |
| GILEAD SCIENCES INC | — | $32.32M | 1.36% |
| CONOCOPHILLIPS | — | $31.90M | 1.35% |
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 EQUITY INCOME FUND · VEIPX, VEIRX | 95% | 0.17% |
| JNL/WMC Equity Income Fund | 66% | 0.59% |
| Guardian Equity Income VIP Fund | 60% | 0.55% |
Advisers
| Firm | Role |
|---|---|
| The Vanguard Group, Inc. | Adviser |
| Wellington Management Company LLP | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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