SCHEDULE OF INVESTMENTS
GUARDIAN DIVERSIFIED RESEARCH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 98.5% |
| |||||||
Aerospace & Defense 1.2% |
| |||||||
Howmet Aerospace, Inc. |
7,083 | $ | 327,589 | |||||
Northrop Grumman Corp. |
1,746 | 768,572 | ||||||
RTX Corp. |
6,448 | 464,062 | ||||||
|
|
|||||||
1,560,223 | ||||||||
|
|
|||||||
Air Freight & Logistics 0.9% |
| |||||||
FedEx Corp. |
4,747 | 1,257,575 | ||||||
|
|
|||||||
1,257,575 | ||||||||
|
|
|||||||
Automobiles 1.7% |
| |||||||
General Motors Co. |
5,362 | 176,785 | ||||||
Tesla, Inc.(1) |
8,532 | 2,134,877 | ||||||
|
|
|||||||
2,311,662 | ||||||||
|
|
|||||||
Banks 1.8% |
| |||||||
Bank of America Corp. |
33,750 | 924,075 | ||||||
Citigroup, Inc. |
37,401 | 1,538,303 | ||||||
|
|
|||||||
2,462,378 | ||||||||
|
|
|||||||
Beverages 2.5% |
| |||||||
Coca-Cola Co. |
23,032 | 1,289,331 | ||||||
Constellation Brands, Inc., Class A |
584 | 146,777 | ||||||
PepsiCo, Inc. |
11,518 | 1,951,610 | ||||||
|
|
|||||||
3,387,718 | ||||||||
|
|
|||||||
Biotechnology 2.3% |
| |||||||
AbbVie, Inc. |
11,836 | 1,764,274 | ||||||
Ascendis Pharma AS, ADR(1) |
5,896 | 552,101 | ||||||
Biogen, Inc.(1) |
1,411 | 362,641 | ||||||
Regeneron Pharmaceuticals, Inc.(1) |
486 | 399,959 | ||||||
|
|
|||||||
3,078,975 | ||||||||
|
|
|||||||
Broadline Retail 3.5% |
| |||||||
Amazon.com, Inc.(1) |
36,727 | 4,668,736 | ||||||
|
|
|||||||
4,668,736 | ||||||||
|
|
|||||||
Building Products 0.9% |
| |||||||
Johnson Controls International PLC |
22,190 | 1,180,730 | ||||||
|
|
|||||||
1,180,730 | ||||||||
|
|
|||||||
Capital Markets 3.4% |
| |||||||
Charles Schwab Corp. |
18,841 | 1,034,371 | ||||||
Goldman Sachs Group, Inc. |
4,646 | 1,503,306 | ||||||
KKR & Co., Inc. |
16,647 | 1,025,455 | ||||||
Quilter PLC (United Kingdom)(2) |
234,763 | 245,561 | ||||||
S&P Global, Inc. |
1,994 | 728,628 | ||||||
|
|
|||||||
4,537,321 | ||||||||
|
|
|||||||
Chemicals 1.9% |
| |||||||
Corteva, Inc. |
8,975 | 459,161 | ||||||
DuPont de Nemours, Inc. |
6,888 | 513,776 | ||||||
Eastman Chemical Co. |
4,197 | 321,994 | ||||||
Linde PLC |
361 | 134,418 | ||||||
PPG Industries, Inc. |
3,092 | 401,342 | ||||||
Sherwin-Williams Co. |
2,543 | 648,592 | ||||||
|
|
|||||||
2,479,283 | ||||||||
|
|
|||||||
Construction Materials 0.4% |
| |||||||
CRH PLC |
8,814 | 482,390 | ||||||
|
|
|||||||
482,390 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN DIVERSIFIED RESEARCH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Consumer Finance 0.2% |
| |||||||
Capital One Financial Corp. |
3,150 | $ | 305,708 | |||||
|
|
|||||||
305,708 | ||||||||
|
|
|||||||
Consumer Staples Distribution & Retail 2.0% |
| |||||||
BJs Wholesale Club Holdings, Inc.(1) |
2,243 | 160,083 | ||||||
Costco Wholesale Corp. |
1,520 | 858,739 | ||||||
Target Corp. |
4,041 | 446,813 | ||||||
Walmart, Inc. |
7,735 | 1,237,059 | ||||||
|
|
|||||||
2,702,694 | ||||||||
|
|
|||||||
Containers & Packaging 0.4% |
| |||||||
Avery Dennison Corp. |
1,760 | 321,499 | ||||||
Berry Global Group, Inc. |
4,090 | 253,212 | ||||||
|
|
|||||||
574,711 | ||||||||
|
|
|||||||
Electric Utilities 2.5% |
| |||||||
Exelon Corp. |
19,767 | 746,995 | ||||||
NextEra Energy, Inc. |
10,201 | 584,415 | ||||||
NRG Energy, Inc. |
42,612 | 1,641,414 | ||||||
PG&E Corp.(1) |
23,545 | 379,781 | ||||||
|
|
|||||||
3,352,605 | ||||||||
|
|
|||||||
Electrical Equipment 0.1% |
| |||||||
Emerson Electric Co. |
723 | 69,820 | ||||||
|
|
|||||||
69,820 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 0.7% |
| |||||||
CDW Corp. |
1,749 | 352,878 | ||||||
Vontier Corp. |
20,195 | 624,430 | ||||||
|
|
|||||||
977,308 | ||||||||
|
|
|||||||
Energy Equipment & Services 0.2% |
| |||||||
Diamond Offshore Drilling, Inc.(1) |
21,584 | 316,853 | ||||||
|
|
|||||||
316,853 | ||||||||
|
|
|||||||
Entertainment 0.8% |
| |||||||
Netflix, Inc.(1) |
1,515 | 572,064 | ||||||
Sea Ltd., ADR(1) |
3,195 | 140,420 | ||||||
Walt Disney Co.(1) |
4,036 | 327,118 | ||||||
|
|
|||||||
1,039,602 | ||||||||
|
|
|||||||
Financial Services 3.8% |
| |||||||
Apollo Global Management, Inc. |
14,082 | 1,264,000 | ||||||
Mastercard, Inc., Class A |
6,426 | 2,544,118 | ||||||
Visa, Inc., Class A |
5,295 | 1,217,903 | ||||||
|
|
|||||||
5,026,021 | ||||||||
|
|
|||||||
Food Products 0.3% |
| |||||||
General Mills, Inc. |
5,857 | 374,789 | ||||||
|
|
|||||||
374,789 | ||||||||
|
|
|||||||
Ground Transportation 1.2% |
| |||||||
Canadian Pacific Kansas City Ltd. |
6,397 | 476,001 | ||||||
Hertz Global Holdings, Inc.(1) |
27,972 | 342,657 | ||||||
Union Pacific Corp. |
4,084 | 831,625 | ||||||
|
|
|||||||
1,650,283 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 2.5% |
| |||||||
Abbott Laboratories |
3,418 | 331,033 | ||||||
Becton Dickinson & Co. |
1,692 | 437,433 | ||||||
Boston Scientific Corp.(1) |
14,595 | 770,616 | ||||||
Dexcom, Inc.(1) |
4,968 | 463,515 | ||||||
IDEXX Laboratories, Inc.(1) |
242 | 105,819 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN DIVERSIFIED RESEARCH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Health Care Equipment & Supplies (continued) |
| |||||||
Intuitive Surgical, Inc.(1) |
2,215 | $ | 647,422 | |||||
Medtronic PLC |
1,753 | 137,365 | ||||||
Stryker Corp. |
1,498 | 409,359 | ||||||
|
|
|||||||
3,302,562 | ||||||||
|
|
|||||||
Health Care Providers & Services 4.8% |
| |||||||
Cigna Group |
5,036 | 1,440,648 | ||||||
Elevance Health, Inc. |
436 | 189,843 | ||||||
Humana, Inc. |
2,203 | 1,071,804 | ||||||
McKesson Corp. |
2,602 | 1,131,480 | ||||||
UnitedHealth Group, Inc. |
5,132 | 2,587,503 | ||||||
|
|
|||||||
6,421,278 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 1.9% |
| |||||||
Aramark |
7,398 | 256,711 | ||||||
Booking Holdings, Inc.(1) |
349 | 1,076,298 | ||||||
Chipotle Mexican Grill, Inc.(1) |
346 | 633,813 | ||||||
Hilton Worldwide Holdings, Inc. |
4,193 | 629,705 | ||||||
|
|
|||||||
2,596,527 | ||||||||
|
|
|||||||
Household Durables 0.9% |
| |||||||
PulteGroup, Inc. |
16,882 | 1,250,112 | ||||||
|
|
|||||||
1,250,112 | ||||||||
|
|
|||||||
Household Products 1.7% |
| |||||||
Procter & Gamble Co. |
15,187 | 2,215,176 | ||||||
|
|
|||||||
2,215,176 | ||||||||
|
|
|||||||
Industrial Conglomerates 0.9% |
| |||||||
General Electric Co. |
2,373 | 262,335 | ||||||
Honeywell International, Inc. |
4,803 | 887,306 | ||||||
|
|
|||||||
1,149,641 | ||||||||
|
|
|||||||
Insurance 2.6% |
| |||||||
AIA Group Ltd. (Hong Kong) |
61,400 | 496,668 | ||||||
Assured Guaranty Ltd. |
25,736 | 1,557,543 | ||||||
AXA SA (France) |
21,479 | 636,215 | ||||||
Prudential PLC (United Kingdom) |
70,555 | 759,745 | ||||||
|
|
|||||||
3,450,171 | ||||||||
|
|
|||||||
Interactive Media & Services 6.3% |
| |||||||
Alphabet, Inc., Class A(1) |
42,459 | 5,556,185 | ||||||
Meta Platforms, Inc., Class A(1) |
9,576 | 2,874,811 | ||||||
|
|
|||||||
8,430,996 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 1.6% |
| |||||||
Bio-Rad Laboratories, Inc., Class A(1) |
861 | 308,625 | ||||||
Danaher Corp. |
2,980 | 739,338 | ||||||
ICON PLC(1) |
345 | 84,956 | ||||||
Thermo Fisher Scientific, Inc. |
2,004 | 1,014,365 | ||||||
|
|
|||||||
2,147,284 | ||||||||
|
|
|||||||
Machinery 1.3% |
| |||||||
Deere & Co. |
374 | 141,140 | ||||||
Ingersoll Rand, Inc. |
9,392 | 598,458 | ||||||
Otis Worldwide Corp. |
13,171 | 1,057,763 | ||||||
|
|
|||||||
1,797,361 | ||||||||
|
|
|||||||
Media 0.9% |
| |||||||
Charter Communications, Inc., Class A(1) |
2,748 | 1,208,625 | ||||||
|
|
|||||||
1,208,625 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN DIVERSIFIED RESEARCH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Metals & Mining 0.5% |
| |||||||
Agnico Eagle Mines Ltd. (Canada) |
8,803 | $ | 400,015 | |||||
Glencore PLC (Australia) |
59,181 | 338,445 | ||||||
|
|
|||||||
738,460 | ||||||||
|
|
|||||||
Multi-Utilities 0.3% |
| |||||||
Ameren Corp. |
4,823 | 360,905 | ||||||
|
|
|||||||
360,905 | ||||||||
|
|
|||||||
Office REITs 0.3% |
| |||||||
Vornado Realty Trust |
15,568 | 353,082 | ||||||
|
|
|||||||
353,082 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 4.9% |
| |||||||
BP PLC (United Kingdom) |
94,491 | 610,114 | ||||||
Cenovus Energy, Inc. (Canada) |
50,041 | 1,041,899 | ||||||
ConocoPhillips |
8,107 | 971,219 | ||||||
Exxon Mobil Corp. |
27,122 | 3,189,005 | ||||||
Shell PLC (United Kingdom) |
23,880 | 758,190 | ||||||
|
|
|||||||
6,570,427 | ||||||||
|
|
|||||||
Passenger Airlines 0.3% |
| |||||||
Southwest Airlines Co. |
13,392 | 362,522 | ||||||
|
|
|||||||
362,522 | ||||||||
|
|
|||||||
Personal Care Products 0.3% |
| |||||||
Kenvue, Inc. |
19,231 | 386,159 | ||||||
|
|
|||||||
386,159 | ||||||||
|
|
|||||||
Pharmaceuticals 3.5% |
| |||||||
4Front Ventures Corp.(1) |
552,923 | 138,231 | ||||||
Eli Lilly & Co. |
3,108 | 1,669,400 | ||||||
Innoviva, Inc.(1) |
43,465 | 564,610 | ||||||
Johnson & Johnson |
5,924 | 922,663 | ||||||
Merck & Co., Inc. |
10,724 | 1,104,036 | ||||||
TerrAscend Corp.(1) |
36,139 | 74,085 | ||||||
Zoetis, Inc. |
1,461 | 254,185 | ||||||
|
|
|||||||
4,727,210 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 7.7% |
| |||||||
Advanced Micro Devices, Inc.(1) |
17,595 | 1,809,118 | ||||||
Applied Materials, Inc. |
3,479 | 481,668 | ||||||
Broadcom, Inc. |
2,949 | 2,449,380 | ||||||
NVIDIA Corp. |
9,596 | 4,174,164 | ||||||
QUALCOMM, Inc. |
12,631 | 1,402,799 | ||||||
|
|
|||||||
10,317,129 | ||||||||
|
|
|||||||
Software 13.0% |
| |||||||
Intuit, Inc. |
2,748 | 1,404,063 | ||||||
Microsoft Corp. |
31,659 | 9,996,329 | ||||||
Oracle Corp. |
32,391 | 3,430,855 | ||||||
Salesforce, Inc.(1) |
12,732 | 2,581,795 | ||||||
|
|
|||||||
17,413,042 | ||||||||
|
|
|||||||
Specialized REITs 0.7% |
| |||||||
Gaming & Leisure Properties, Inc. |
19,227 | 875,790 | ||||||
|
|
|||||||
875,790 | ||||||||
|
|
|||||||
Specialty Retail 2.2% |
| |||||||
CarMax, Inc.(1) |
4,752 | 336,109 | ||||||
Home Depot, Inc. |
6,509 | 1,966,759 | ||||||
OReilly Automotive, Inc.(1) |
329 | 299,015 | ||||||
TJX Cos., Inc. |
3,369 | 299,437 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN DIVERSIFIED RESEARCH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Specialty Retail (continued) |
| |||||||
Warby Parker, Inc., Class A(1) |
2,985 | $ | 39,283 | |||||
|
|
|||||||
2,940,603 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 4.6% |
| |||||||
Apple, Inc. |
36,218 | 6,200,884 | ||||||
|
|
|||||||
6,200,884 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods 0.6% |
| |||||||
Levi Strauss & Co., Class A |
8,624 | 117,114 | ||||||
Lululemon Athletica, Inc.(1) |
605 | 233,294 | ||||||
NIKE, Inc., Class B |
4,632 | 442,912 | ||||||
|
|
|||||||
793,320 | ||||||||
|
|
|||||||
Trading Companies & Distributors 0.6% |
| |||||||
United Rentals, Inc. |
1,780 | 791,335 | ||||||
|
|
|||||||
791,335 | ||||||||
|
|
|||||||
Wireless Telecommunication Services 0.9% |
| |||||||
T-Mobile U.S., Inc.(1) |
8,644 | 1,210,592 | ||||||
|
|
|||||||
1,210,592 | ||||||||
|
|
|||||||
Total Common Stocks |
|
131,808,578 | ||||||
|
|
|||||||
Exchange-Traded Funds 0.2% |
| |||||||
SPDR S&P 500 ETF Trust |
630 | 269,312 | ||||||
|
|
|||||||
Total ExchangeTraded Funds |
|
269,312 | ||||||
|
|
|||||||
Principal Amount |
Value | |||||||
Repurchase Agreements 1.4% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $1,847,188, due 10/2/2023(3) |
$ | 1,846,942 | 1,846,942 | |||||
|
|
|||||||
Total Repurchase Agreements |
|
1,846,942 | ||||||
|
|
|||||||
Total Investments 100.1% |
|
133,924,832 | ||||||
|
|
|||||||
Liabilities in excess of other assets (0.1)% |
|
(90,605 | ) | |||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 133,834,227 | |||||
|
|
(1) | Nonincomeproducing security. |
(2) | Security 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 September 30, 2023, the aggregate market value of the security amounted to $245,561, representing 0.2% of net assets. This security has been deemed liquid by the investment adviser pursuant to the Funds 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 Note |
0.75 | % | 4/30/2026 | $ | 2,085,700 | $ | 1,883,917 |
Legend:
ADR American Depositary Receipt
REITs Real Estate Investment Trusts
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 September 30, 2023 in valuing the Funds 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 |
$ | 127,963,640 | $ | 3,844,938 | * | $ | | $ | 131,808,578 | |||||||
Exchange-Traded Funds |
269,312 | | | 269,312 | ||||||||||||
Repurchase Agreements |
| 1,846,942 | | 1,846,942 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 128,232,952 | $ | 5,691,880 | $ | | $ | 133,924,832 | ||||||||
|
|
|
|
|
|
|
|
* | 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
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 97.8% |
| |||||||
Aerospace & Defense 3.2% |
| |||||||
Curtiss-Wright Corp. |
6,379 | $ | 1,247,923 | |||||
RTX Corp. |
15,273 | 1,099,198 | ||||||
Textron, Inc. |
25,506 | 1,993,039 | ||||||
|
|
|||||||
4,340,160 | ||||||||
|
|
|||||||
Air Freight & Logistics 0.7% |
| |||||||
Expeditors International of Washington, Inc. |
7,742 | 887,465 | ||||||
|
|
|||||||
887,465 | ||||||||
|
|
|||||||
Automobile Components 1.3% |
| |||||||
BorgWarner, Inc. |
44,597 | 1,800,381 | ||||||
|
|
|||||||
1,800,381 | ||||||||
|
|
|||||||
Banks 6.8% |
| |||||||
Bank OZK |
18,127 | 671,968 | ||||||
JPMorgan Chase & Co. |
34,898 | 5,060,908 | ||||||
Wells Fargo & Co. |
83,050 | 3,393,423 | ||||||
|
|
|||||||
9,126,299 | ||||||||
|
|
|||||||
Biotechnology 8.9% |
| |||||||
Amgen, Inc. |
16,898 | 4,541,507 | ||||||
Gilead Sciences, Inc. |
45,330 | 3,397,030 | ||||||
Regeneron Pharmaceuticals, Inc.(1) |
4,818 | 3,965,021 | ||||||
|
|
|||||||
11,903,558 | ||||||||
|
|
|||||||
Building Products 0.8% |
| |||||||
Builders FirstSource, Inc.(1) |
8,675 | 1,079,951 | ||||||
|
|
|||||||
1,079,951 | ||||||||
|
|
|||||||
Capital Markets 0.8% |
| |||||||
Houlihan Lokey, Inc. |
5,966 | 639,078 | ||||||
Raymond James Financial, Inc. |
4,684 | 470,414 | ||||||
|
|
|||||||
1,109,492 | ||||||||
|
|
|||||||
Chemicals 1.2% |
| |||||||
LyondellBasell Industries NV, Class A |
7,819 | 740,459 | ||||||
PPG Industries, Inc. |
7,131 | 925,604 | ||||||
|
|
|||||||
1,666,063 | ||||||||
|
|
|||||||
Communications Equipment 2.4% |
| |||||||
Cisco Systems, Inc. |
59,687 | 3,208,773 | ||||||
|
|
|||||||
3,208,773 | ||||||||
|
|
|||||||
Construction & Engineering 1.3% |
| |||||||
EMCOR Group, Inc. |
8,172 | 1,719,307 | ||||||
|
|
|||||||
1,719,307 | ||||||||
|
|
|||||||
Consumer Staples Distribution & Retail 1.2% |
| |||||||
BJs Wholesale Club Holdings, Inc.(1) |
14,603 | 1,042,216 | ||||||
Kroger Co. |
12,465 | 557,809 | ||||||
|
|
|||||||
1,600,025 | ||||||||
|
|
|||||||
Distributors 1.4% |
| |||||||
LKQ Corp. |
39,065 | 1,934,108 | ||||||
|
|
|||||||
1,934,108 | ||||||||
|
|
|||||||
Electric Utilities 0.5% |
| |||||||
IDACORP, Inc. |
7,592 | 710,991 | ||||||
|
|
|||||||
710,991 | ||||||||
|
|
|||||||
Electrical Equipment 2.8% |
| |||||||
Emerson Electric Co. |
13,482 | 1,301,957 | ||||||
nVent Electric PLC |
31,685 | 1,678,988 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN GROWTH & INCOME VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Electrical Equipment (continued) |
| |||||||
Sensata Technologies Holding PLC |
19,737 | $ | 746,453 | |||||
|
|
|||||||
3,727,398 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 0.9% |
| |||||||
IPG Photonics Corp.(1) |
6,351 | 644,881 | ||||||
Keysight Technologies, Inc.(1) |
4,410 | 583,487 | ||||||
|
|
|||||||
1,228,368 | ||||||||
|
|
|||||||
Energy Equipment & Services 1.3% |
| |||||||
ChampionX Corp. |
8,704 | 310,036 | ||||||
Helmerich & Payne, Inc. |
35,103 | 1,479,943 | ||||||
|
|
|||||||
1,789,979 | ||||||||
|
|
|||||||
Financial Services 9.7% |
| |||||||
Berkshire Hathaway, Inc., Class B(1) |
14,604 | 5,115,781 | ||||||
Fiserv, Inc.(1) |
15,675 | 1,770,648 | ||||||
Mastercard, Inc., Class A |
12,045 | 4,768,736 | ||||||
PayPal Holdings, Inc.(1) |
24,330 | 1,422,332 | ||||||
|
|
|||||||
13,077,497 | ||||||||
|
|
|||||||
Health Care Providers & Services 8.0% |
| |||||||
Cencora, Inc. |
11,432 | 2,057,417 | ||||||
Cigna Group |
6,747 | 1,930,114 | ||||||
Elevance Health, Inc. |
11,448 | 4,984,688 | ||||||
Quest Diagnostics, Inc. |
14,646 | 1,784,762 | ||||||
|
|
|||||||
10,756,981 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 0.8% |
| |||||||
Booking Holdings, Inc.(1) |
148 | 456,425 | ||||||
Choice Hotels International, Inc. |
5,250 | 643,177 | ||||||
|
|
|||||||
1,099,602 | ||||||||
|
|
|||||||
Household Durables 0.7% |
| |||||||
D.R. Horton, Inc. |
8,626 | 927,036 | ||||||
|
|
|||||||
927,036 | ||||||||
|
|
|||||||
Insurance 3.2% |
| |||||||
American International Group, Inc. |
27,388 | 1,659,713 | ||||||
Axis Capital Holdings Ltd. |
26,506 | 1,494,143 | ||||||
MetLife, Inc. |
18,738 | 1,178,808 | ||||||
|
|
|||||||
4,332,664 | ||||||||
|
|
|||||||
Interactive Media & Services 3.4% |
| |||||||
Alphabet, Inc., Class C(1) |
34,717 | 4,577,436 | ||||||
|
|
|||||||
4,577,436 | ||||||||
|
|
|||||||
IT Services 2.2% |
| |||||||
Accenture PLC, Class A |
8,626 | 2,649,131 | ||||||
EPAM Systems, Inc.(1) |
1,336 | 341,602 | ||||||
|
|
|||||||
2,990,733 | ||||||||
|
|
|||||||
Machinery 3.3% |
| |||||||
Dover Corp. |
4,882 | 681,088 | ||||||
Middleby Corp.(1) |
6,255 | 800,640 | ||||||
PACCAR, Inc. |
22,632 | 1,924,172 | ||||||
Westinghouse Air Brake Technologies Corp. |
9,207 | 978,428 | ||||||
|
|
|||||||
4,384,328 | ||||||||
|
|
|||||||
Media 2.6% |
| |||||||
Comcast Corp., Class A |
78,906 | 3,498,692 | ||||||
|
|
|||||||
3,498,692 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN GROWTH & INCOME VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Metals & Mining 0.7% |
| |||||||
BHP Group Ltd., ADR |
16,146 | $ | 918,385 | |||||
|
|
|||||||
918,385 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 7.7% |
| |||||||
Chevron Corp. |
22,339 | 3,766,802 | ||||||
ConocoPhillips |
19,922 | 2,386,656 | ||||||
EOG Resources, Inc. |
14,127 | 1,790,738 | ||||||
Phillips 66 |
20,307 | 2,439,886 | ||||||
|
|
|||||||
10,384,082 | ||||||||
|
|
|||||||
Passenger Airlines 0.7% |
| |||||||
Alaska Air Group, Inc.(1) |
24,075 | 892,701 | ||||||
|
|
|||||||
892,701 | ||||||||
|
|
|||||||
Pharmaceuticals 2.8% |
| |||||||
Roche Holding AG, ADR |
111,105 | 3,769,793 | ||||||
|
|
|||||||
3,769,793 | ||||||||
|
|
|||||||
Professional Services 2.1% |
| |||||||
Maximus, Inc. |
13,685 | 1,021,996 | ||||||
Robert Half, Inc. |
23,550 | 1,725,744 | ||||||
|
|
|||||||
2,747,740 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 4.4% |
| |||||||
NXP Semiconductors NV |
6,947 | 1,388,844 | ||||||
QUALCOMM, Inc. |
31,240 | 3,469,515 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR |
12,768 | 1,109,539 | ||||||
|
|
|||||||
5,967,898 | ||||||||
|
|
|||||||
Specialized REITs 1.7% |
| |||||||
Weyerhaeuser Co. |
75,684 | 2,320,471 | ||||||
|
|
|||||||
2,320,471 | ||||||||
|
|
|||||||
Specialty Retail 2.6% |
| |||||||
Lowes Cos., Inc. |
10,560 | 2,194,790 | ||||||
Ross Stores, Inc. |
11,228 | 1,268,203 | ||||||
|
|
|||||||
3,462,993 | ||||||||
|
|
|||||||
Tobacco 3.9% |
| |||||||
Philip Morris International, Inc. |
56,148 | 5,198,182 | ||||||
|
|
|||||||
5,198,182 | ||||||||
|
|
|||||||
Trading Companies & Distributors 1.8% |
| |||||||
Ferguson PLC |
9,211 | 1,514,933 | ||||||
MSC Industrial Direct Co., Inc., Class A |
8,457 | 830,054 | ||||||
|
|
|||||||
2,344,987 | ||||||||
|
|
|||||||
Total Common Stocks |
|
131,484,519 | ||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN GROWTH & INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Repurchase Agreements 2.3% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $3,045,203, due 10/2/2023(2) |
$ | 3,044,797 | $ | 3,044,797 | ||||
|
|
|||||||
Total Repurchase Agreements |
|
3,044,797 | ||||||
|
|
|||||||
Total Investments 100.1% |
134,529,316 | |||||||
|
|
|||||||
Liabilities in excess of other assets (0.1)% |
(133,545 | ) | ||||||
|
|
|||||||
Total Net Assets 100.0% |
$ | 134,395,771 | ||||||
|
|
(1) | Nonincomeproducing security. |
(2) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 3,438,400 | $ | 3,105,749 |
Legend:
ADR American Depositary Receipt |
REITs Real Estate Investment Trusts |
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 September 30, 2023 in valuing the Funds 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 |
$ | 131,484,519 | $ | | $ | | $ | 131,484,519 | ||||||||
Repurchase Agreements |
| 3,044,797 | | 3,044,797 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 131,484,519 | $ | 3,044,797 | $ | | $ | 134,529,316 | ||||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN INTEGRATED RESEARCH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 98.8% |
| |||||||
Aerospace & Defense 1.0% |
| |||||||
RTX Corp. |
48,016 | $ | 3,455,711 | |||||
|
|
|||||||
3,455,711 | ||||||||
|
|
|||||||
Automobiles 0.7% |
| |||||||
Tesla, Inc.(1) |
9,743 | 2,437,893 | ||||||
|
|
|||||||
2,437,893 | ||||||||
|
|
|||||||
Banks 3.7% |
| |||||||
Bank of America Corp. |
158,638 | 4,343,509 | ||||||
JPMorgan Chase & Co. |
53,868 | 7,811,937 | ||||||
|
|
|||||||
12,155,446 | ||||||||
|
|
|||||||
Beverages 2.6% |
| |||||||
Constellation Brands, Inc., Class A |
17,633 | 4,431,702 | ||||||
Monster Beverage Corp.(1) |
77,961 | 4,128,035 | ||||||
|
|
|||||||
8,559,737 | ||||||||
|
|
|||||||
Biotechnology 2.5% |
| |||||||
Regeneron Pharmaceuticals, Inc.(1) |
3,977 | 3,272,912 | ||||||
Vertex Pharmaceuticals, Inc.(1) |
14,516 | 5,047,794 | ||||||
|
|
|||||||
8,320,706 | ||||||||
|
|
|||||||
Broadline Retail 4.6% |
| |||||||
Amazon.com, Inc.(1) |
120,982 | 15,379,232 | ||||||
|
|
|||||||
15,379,232 | ||||||||
|
|
|||||||
Building Products 1.0% |
| |||||||
Johnson Controls International PLC |
60,529 | 3,220,748 | ||||||
|
|
|||||||
3,220,748 | ||||||||
|
|
|||||||
Capital Markets 1.5% |
| |||||||
Morgan Stanley |
61,530 | 5,025,155 | ||||||
|
|
|||||||
5,025,155 | ||||||||
|
|
|||||||
Chemicals 2.5% |
| |||||||
PPG Industries, Inc. |
29,589 | 3,840,652 | ||||||
Sherwin-Williams Co. |
17,573 | 4,481,994 | ||||||
|
|
|||||||
8,322,646 | ||||||||
|
|
|||||||
Consumer Finance 1.0% |
| |||||||
American Express Co. |
22,442 | 3,348,122 | ||||||
|
|
|||||||
3,348,122 | ||||||||
|
|
|||||||
Electric Utilities 2.4% |
| |||||||
American Electric Power Co., Inc. |
31,156 | 2,343,554 | ||||||
Duke Energy Corp. |
40,522 | 3,576,472 | ||||||
Eversource Energy |
32,477 | 1,888,538 | ||||||
|
|
|||||||
7,808,564 | ||||||||
|
|
|||||||
Electrical Equipment 1.1% |
| |||||||
AMETEK, Inc. |
24,486 | 3,618,051 | ||||||
|
|
|||||||
3,618,051 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 1.0% |
| |||||||
CDW Corp. |
16,768 | 3,383,112 | ||||||
|
|
|||||||
3,383,112 | ||||||||
|
|
|||||||
Energy Equipment & Services 0.8% |
| |||||||
Schlumberger NV |
46,809 | 2,728,965 | ||||||
|
|
|||||||
2,728,965 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN INTEGRATED RESEARCH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Financial Services 2.1% |
| |||||||
Mastercard, Inc., Class A |
17,655 | $ | 6,989,791 | |||||
|
|
|||||||
6,989,791 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 4.4% |
| |||||||
Abbott Laboratories |
44,399 | 4,300,043 | ||||||
Becton Dickinson & Co. |
15,121 | 3,909,232 | ||||||
Boston Scientific Corp.(1) |
63,858 | 3,371,703 | ||||||
Hologic, Inc.(1) |
42,296 | 2,935,342 | ||||||
|
|
|||||||
14,516,320 | ||||||||
|
|
|||||||
Health Care Providers & Services 2.7% |
| |||||||
UnitedHealth Group, Inc. |
17,929 | 9,039,622 | ||||||
|
|
|||||||
9,039,622 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 3.0% |
| |||||||
Airbnb, Inc., Class A(1) |
14,147 | 1,941,110 | ||||||
Marriott International, Inc., Class A |
19,193 | 3,772,576 | ||||||
McDonalds Corp. |
15,720 | 4,141,277 | ||||||
|
|
|||||||
9,854,963 | ||||||||
|
|
|||||||
Household Products 3.2% |
| |||||||
Colgate-Palmolive Co. |
49,574 | 3,525,207 | ||||||
Procter & Gamble Co. |
49,134 | 7,166,685 | ||||||
|
|
|||||||
10,691,892 | ||||||||
|
|
|||||||
Industrial REITs 1.1% |
| |||||||
Prologis, Inc. |
33,724 | 3,784,170 | ||||||
|
|
|||||||
3,784,170 | ||||||||
|
|
|||||||
Insurance 3.6% |
| |||||||
Arch Capital Group Ltd.(1) |
41,108 | 3,276,719 | ||||||
Chubb Ltd. |
20,222 | 4,209,816 | ||||||
Progressive Corp. |
32,557 | 4,535,190 | ||||||
|
|
|||||||
12,021,725 | ||||||||
|
|
|||||||
Interactive Media & Services 9.3% |
| |||||||
Alphabet, Inc., Class A(1) |
110,047 | 14,400,750 | ||||||
Alphabet, Inc., Class C(1) |
36,527 | 4,816,085 | ||||||
Meta Platforms, Inc., Class A(1) |
34,199 | 10,266,882 | ||||||
ZoomInfo Technologies, Inc.(1) |
82,008 | 1,344,931 | ||||||
|
|
|||||||
30,828,648 | ||||||||
|
|
|||||||
IT Services 1.1% |
| |||||||
Accenture PLC, Class A |
11,786 | 3,619,598 | ||||||
|
|
|||||||
3,619,598 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 2.5% |
| |||||||
Danaher Corp. |
17,111 | 4,245,239 | ||||||
Thermo Fisher Scientific, Inc. |
7,995 | 4,046,829 | ||||||
|
|
|||||||
8,292,068 | ||||||||
|
|
|||||||
Machinery 3.6% |
| |||||||
Deere & Co. |
12,723 | 4,801,406 | ||||||
Illinois Tool Works, Inc. |
15,848 | 3,649,953 | ||||||
Nordson Corp. |
15,660 | 3,494,842 | ||||||
|
|
|||||||
11,946,201 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 3.3% |
| |||||||
ConocoPhillips |
26,182 | 3,136,604 | ||||||
EOG Resources, Inc. |
32,156 | 4,076,094 | ||||||
Pioneer Natural Resources Co. |
17,072 | 3,918,878 | ||||||
|
|
|||||||
11,131,576 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN INTEGRATED RESEARCH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Personal Care Products 1.0% |
| |||||||
Estee Lauder Cos., Inc., Class A |
22,643 | $ | 3,273,046 | |||||
|
|
|||||||
3,273,046 | ||||||||
|
|
|||||||
Pharmaceuticals 3.5% |
| |||||||
Eli Lilly & Co. |
13,476 | 7,238,364 | ||||||
Merck & Co., Inc. |
42,240 | 4,348,608 | ||||||
|
|
|||||||
11,586,972 | ||||||||
|
|
|||||||
Residential REITs 0.7% |
| |||||||
AvalonBay Communities, Inc. |
14,365 | 2,467,045 | ||||||
|
|
|||||||
2,467,045 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 8.7% |
| |||||||
Advanced Micro Devices, Inc.(1) |
27,200 | 2,796,704 | ||||||
Broadcom, Inc. |
6,976 | 5,794,126 | ||||||
KLA Corp. |
9,150 | 4,196,739 | ||||||
NVIDIA Corp. |
28,128 | 12,235,399 | ||||||
Texas Instruments, Inc. |
24,531 | 3,900,674 | ||||||
|
|
|||||||
28,923,642 | ||||||||
|
|
|||||||
Software 9.9% |
| |||||||
Microsoft Corp. |
75,720 | 23,908,590 | ||||||
Palo Alto Networks, Inc.(1) |
10,362 | 2,429,267 | ||||||
Salesforce, Inc.(1) |
17,803 | 3,610,092 | ||||||
Workday, Inc., Class A(1) |
14,564 | 3,129,076 | ||||||
|
|
|||||||
33,077,025 | ||||||||
|
|
|||||||
Specialty Retail 1.6% |
| |||||||
TJX Cos., Inc. |
59,512 | 5,289,427 | ||||||
|
|
|||||||
5,289,427 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 5.8% |
| |||||||
Apple, Inc. |
113,152 | 19,372,754 | ||||||
|
|
|||||||
19,372,754 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods 1.3% |
| |||||||
NIKE, Inc., Class B |
43,629 | 4,171,805 | ||||||
|
|
|||||||
4,171,805 | ||||||||
|
|
|||||||
Total Common Stocks |
|
328,642,378 | ||||||
|
|
|||||||
Principal Amount |
Value | |||||||
Repurchase Agreements 0.6% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $2,054,805, due 10/2/2023(2) |
$ | 2,054,531 | 2,054,531 | |||||
|
|
|||||||
Total Repurchase Agreements |
|
2,054,531 | ||||||
|
|
|||||||
Total Investments 99.4% |
|
330,696,909 | ||||||
|
|
|||||||
Assets in excess of other liabilities 0.6% |
|
1,936,226 | ||||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 332,633,135 | |||||
|
|
(1) | Nonincomeproducing security. |
(2) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 2,320,100 | $ | 2,095,640 |
Legend: |
REITs Real Estate Investment Trusts |
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 September 30, 2023 in valuing the Funds 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 |
$ | 328,642,378 | $ | | $ | | $ | 328,642,378 | ||||||||
Repurchase Agreements |
| 2,054,531 | | 2,054,531 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 328,642,378 | $ | 2,054,531 | $ | | $ | 330,696,909 | ||||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN INTERNATIONAL GROWTH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 98.5% |
| |||||||
Australia 2.3% |
| |||||||
IDP Education Ltd. |
14,067 | $ | 192,904 | |||||
QBE Insurance Group Ltd. |
77,631 | 785,073 | ||||||
Woodside Energy Group Ltd. |
54,419 | 1,267,882 | ||||||
|
|
|||||||
2,245,859 | ||||||||
|
|
|||||||
Belgium 0.9% |
| |||||||
KBC Group NV |
14,470 | 902,168 | ||||||
|
|
|||||||
902,168 | ||||||||
|
|
|||||||
Cayman Islands 1.2% |
| |||||||
Tencent Holdings Ltd. |
30,200 | 1,170,403 | ||||||
|
|
|||||||
1,170,403 | ||||||||
|
|
|||||||
Denmark 4.9% |
| |||||||
Genmab AS(1) |
2,960 | 1,047,486 | ||||||
Novo Nordisk AS, Class B |
40,622 | 3,695,214 | ||||||
|
|
|||||||
4,742,700 | ||||||||
|
|
|||||||
France 14.3% |
| |||||||
Air Liquide SA |
16,047 | 2,704,192 | ||||||
LOreal SA |
3,754 | 1,554,679 | ||||||
LVMH Moet Hennessy Louis Vuitton SE |
4,429 | 3,341,356 | ||||||
Safran SA |
19,128 | 2,990,739 | ||||||
Sanofi |
7,207 | 773,327 | ||||||
Schneider Electric SE |
3,047 | 502,337 | ||||||
Vinci SA |
18,210 | 2,015,970 | ||||||
|
|
|||||||
13,882,600 | ||||||||
|
|
|||||||
Germany 6.0% |
| |||||||
Beiersdorf AG |
5,372 | 693,656 | ||||||
Delivery Hero SE(1)(2) |
5,417 | 155,578 | ||||||
Deutsche Boerse AG |
11,252 | 1,944,855 | ||||||
Deutsche Post AG |
25,585 | 1,042,755 | ||||||
Infineon Technologies AG |
46,165 | 1,531,059 | ||||||
Zalando SE(1)(2) |
19,184 | 428,412 | ||||||
|
|
|||||||
5,796,315 | ||||||||
|
|
|||||||
Hong Kong 0.8% |
| |||||||
AIA Group Ltd. |
90,000 | 728,016 | ||||||
|
|
|||||||
728,016 | ||||||||
|
|
|||||||
India 1.3% |
| |||||||
HDFC Bank Ltd., ADR |
21,831 | 1,288,247 | ||||||
|
|
|||||||
1,288,247 | ||||||||
|
|
|||||||
Ireland 1.8% |
| |||||||
Linde PLC |
4,761 | 1,781,190 | ||||||
|
|
|||||||
1,781,190 | ||||||||
|
|
|||||||
Japan 19.6% |
| |||||||
Ajinomoto Co., Inc. |
18,600 | 716,848 | ||||||
Daikin Industries Ltd. |
13,400 | 2,102,262 | ||||||
Hoya Corp. |
19,300 | 1,988,933 | ||||||
Keyence Corp. |
6,400 | 2,378,697 | ||||||
Otsuka Corp. |
23,800 | 1,007,781 | ||||||
Recruit Holdings Co. Ltd. |
59,300 | 1,826,112 | ||||||
Seven & i Holdings Co. Ltd. |
28,000 | 1,096,468 | ||||||
Shimano, Inc. |
7,800 | 1,053,217 | ||||||
Shin-Etsu Chemical Co. Ltd. |
66,800 | 1,938,830 | ||||||
Sony Group Corp. |
31,700 | 2,593,113 | ||||||
Terumo Corp. |
34,500 | 913,977 | ||||||
Tokio Marine Holdings, Inc. |
59,700 | 1,376,226 | ||||||
|
|
|||||||
18,992,464 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN INTERNATIONAL GROWTH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Netherlands 9.2% |
| |||||||
Adyen NV(1)(2) |
197 | $ | 146,030 | |||||
Airbus SE |
12,333 | 1,649,939 | ||||||
Argenx SE(1) |
2,723 | 1,323,816 | ||||||
ASML Holding NV |
7,168 | 4,209,330 | ||||||
Ferrari NV |
2,145 | 632,166 | ||||||
Wolters Kluwer NV |
8,296 | 1,004,693 | ||||||
|
|
|||||||
8,965,974 | ||||||||
|
|
|||||||
Singapore 1.8% |
| |||||||
DBS Group Holdings Ltd. |
71,300 | 1,750,735 | ||||||
|
|
|||||||
1,750,735 | ||||||||
|
|
|||||||
Spain 2.9% |
| |||||||
Iberdrola SA |
99,553 | 1,111,551 | ||||||
Industria de Diseno Textil SA |
45,478 | 1,692,660 | ||||||
|
|
|||||||
2,804,211 | ||||||||
|
|
|||||||
Sweden 4.6% |
| |||||||
Atlas Copco AB, Class A |
158,496 | 2,123,510 | ||||||
Epiroc AB, Class A |
45,613 | 863,347 | ||||||
Evolution AB(2) |
6,732 | 678,369 | ||||||
Volvo AB, Class B |
37,963 | 781,455 | ||||||
|
|
|||||||
4,446,681 | ||||||||
|
|
|||||||
Switzerland 8.9% |
| |||||||
Cie Financiere Richemont SA, Reg S, Class A |
13,168 | 1,604,421 | ||||||
Nestle SA, Reg S |
42,620 | 4,812,710 | ||||||
Roche Holding AG |
5,724 | 1,561,308 | ||||||
Straumann Holding AG, Reg S |
5,336 | 677,751 | ||||||
|
|
|||||||
8,656,190 | ||||||||
|
|
|||||||
Taiwan 1.1% |
| |||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR |
11,752 | 1,021,249 | ||||||
|
|
|||||||
1,021,249 | ||||||||
|
|
|||||||
United Kingdom 15.6% |
| |||||||
3i Group PLC |
76,690 | 1,930,320 | ||||||
Allfunds Group PLC |
55,570 | 306,768 | ||||||
AstraZeneca PLC |
27,425 | 3,690,768 | ||||||
Diageo PLC |
45,772 | 1,688,018 | ||||||
Ferguson PLC |
5,927 | 974,551 | ||||||
InterContinental Hotels Group PLC |
26,787 | 1,974,806 | ||||||
London Stock Exchange Group PLC |
19,188 | 1,926,223 | ||||||
Oxford Nanopore Technologies PLC(1) |
79,368 | 199,228 | ||||||
RELX PLC |
63,676 | 2,148,875 | ||||||
Spirax-Sarco Engineering PLC |
2,553 | 295,221 | ||||||
|
|
|||||||
15,134,778 | ||||||||
|
|
|||||||
United States 1.3% |
| |||||||
MercadoLibre, Inc.(1) |
272 | 344,863 | ||||||
Yum China Holdings, Inc. |
15,746 | 877,367 | ||||||
|
|
|||||||
1,222,230 | ||||||||
|
|
|||||||
Total Common Stocks |
|
95,532,010 | ||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN INTERNATIONAL GROWTH VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Repurchase Agreements 1.5% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $1,481,191, due 10/2/2023(3) |
$ | 1,480,993 | $ | 1,480,993 | ||||
|
|
|||||||
Total Repurchase Agreements |
|
1,480,993 | ||||||
|
|
|||||||
Total Investments 100.0% |
|
97,013,003 | ||||||
|
|
|||||||
Liabilities in excess of other assets (0.0)% |
|
(44,459 | ) | |||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 96,968,544 | |||||
|
|
(1) | Nonincomeproducing 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 September 30, 2023, the aggregate market value of these securities amounted to $1,408,389, representing 1.5% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Funds 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 Note |
0.75 | % | 4/30/2026 | $ | 1,672,500 | $ | 1,510,692 |
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 September 30, 2023 in valuing the Funds 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 |
$ | | $ | 2,245,859 | * | $ | | $ | 2,245,859 | |||||||
Belgium |
| 902,168 | * | | 902,168 | |||||||||||
Cayman Islands |
| 1,170,403 | * | | 1,170,403 | |||||||||||
Denmark |
| 4,742,700 | * | | 4,742,700 | |||||||||||
France |
| 13,882,600 | * | | 13,882,600 | |||||||||||
Germany |
| 5,796,315 | * | | 5,796,315 | |||||||||||
Hong Kong |
| 728,016 | * | | 728,016 | |||||||||||
India |
1,288,247 | | | 1,288,247 | ||||||||||||
Ireland |
| 1,781,190 | * | | 1,781,190 | |||||||||||
Japan |
| 18,992,464 | * | | 18,992,464 | |||||||||||
Netherlands |
| 8,965,974 | * | | 8,965,974 | |||||||||||
Singapore |
| 1,750,735 | * | | 1,750,735 | |||||||||||
Spain |
| 2,804,211 | * | | 2,804,211 | |||||||||||
Sweden |
| 4,446,681 | * | | 4,446,681 | |||||||||||
Switzerland |
| 8,656,190 | * | | 8,656,190 | |||||||||||
Taiwan |
1,021,249 | | | 1,021,249 | ||||||||||||
United Kingdom |
| 15,134,778 | * | | 15,134,778 | |||||||||||
United States |
1,222,230 | | | 1,222,230 | ||||||||||||
Repurchase Agreements |
| 1,480,993 | | 1,480,993 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 3,531,726 | $ | 93,481,277 | $ | | $ | 97,013,003 | ||||||||
|
|
|
|
|
|
|
|
* | 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
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 98.4% |
| |||||||
Australia 1.4% |
| |||||||
Rio Tinto Ltd. |
52,619 | $ | 3,866,355 | |||||
|
|
|||||||
3,866,355 | ||||||||
|
|
|||||||
Austria 1.0% |
| |||||||
Erste Group Bank AG |
78,133 | 2,699,117 | ||||||
|
|
|||||||
2,699,117 | ||||||||
|
|
|||||||
Belgium 0.8% |
| |||||||
UCB SA |
28,073 | 2,297,144 | ||||||
|
|
|||||||
2,297,144 | ||||||||
|
|
|||||||
Brazil 0.3% |
| |||||||
B3 SA - Brasil Bolsa Balcao |
404,038 | 987,880 | ||||||
|
|
|||||||
987,880 | ||||||||
|
|
|||||||
Canada 1.2% |
| |||||||
Nutrien Ltd. |
23,378 | 1,443,730 | ||||||
Toronto-Dominion Bank |
31,412 | 1,892,468 | ||||||
|
|
|||||||
3,336,198 | ||||||||
|
|
|||||||
Cayman Islands 0.9% |
| |||||||
Alibaba Group Holding Ltd.(1) |
131,000 | 1,420,223 | ||||||
Tencent Holdings Ltd. |
30,800 | 1,193,655 | ||||||
|
|
|||||||
2,613,878 | ||||||||
|
|
|||||||
China 0.8% |
| |||||||
BYD Co. Ltd., Class H |
44,000 | 1,354,381 | ||||||
Contemporary Amperex Technology Co. Ltd., Class A(2) |
31,300 | 877,473 | ||||||
|
|
|||||||
2,231,854 | ||||||||
|
|
|||||||
Denmark 4.0% |
| |||||||
Novo Nordisk AS, Class B |
90,148 | 8,200,389 | ||||||
Vestas Wind Systems AS(1) |
143,722 | 3,067,645 | ||||||
|
|
|||||||
11,268,034 | ||||||||
|
|
|||||||
France 8.9% |
| |||||||
Carrefour SA |
121,893 | 2,096,255 | ||||||
EssilorLuxottica SA |
25,794 | 4,483,708 | ||||||
Legrand SA |
22,995 | 2,110,406 | ||||||
Sanofi |
57,570 | 6,177,387 | ||||||
Schneider Electric SE |
30,373 | 5,007,377 | ||||||
TotalEnergies SE |
78,962 | 5,196,280 | ||||||
|
|
|||||||
25,071,413 | ||||||||
|
|
|||||||
Germany 5.7% |
| |||||||
Bayerische Motoren Werke AG |
29,168 | 2,971,037 | ||||||
Infineon Technologies AG |
68,605 | 2,275,280 | ||||||
SAP SE |
47,444 | 6,158,516 | ||||||
Siemens AG, Reg S |
32,971 | 4,726,831 | ||||||
|
|
|||||||
16,131,664 | ||||||||
|
|
|||||||
Hong Kong 2.8% |
| |||||||
AIA Group Ltd. |
465,800 | 3,767,887 | ||||||
BOC Hong Kong Holdings Ltd. |
1,062,500 | 2,897,245 | ||||||
Techtronic Industries Co. Ltd. |
125,000 | 1,213,622 | ||||||
|
|
|||||||
7,878,754 | ||||||||
|
|
|||||||
India 0.9% |
| |||||||
HDFC Bank Ltd., ADR |
43,708 | 2,579,209 | ||||||
|
|
|||||||
2,579,209 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN INTERNATIONAL EQUITY VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Indonesia 0.7% |
| |||||||
Bank Central Asia Tbk PT |
3,451,200 | $ | 1,968,974 | |||||
|
|
|||||||
1,968,974 | ||||||||
|
|
|||||||
Ireland 0.8% |
| |||||||
Linde PLC |
5,859 | 2,181,599 | ||||||
|
|
|||||||
2,181,599 | ||||||||
|
|
|||||||
Italy 1.0% |
| |||||||
FinecoBank Banca Fineco SpA |
240,973 | 2,925,694 | ||||||
|
|
|||||||
2,925,694 | ||||||||
|
|
|||||||
Japan 21.8% |
| |||||||
Bridgestone Corp. |
99,200 | 3,866,398 | ||||||
Daikin Industries Ltd. |
19,200 | 3,012,196 | ||||||
FANUC Corp. |
68,000 | 1,775,009 | ||||||
FUJIFILM Holdings Corp. |
47,000 | 2,721,337 | ||||||
Hitachi Ltd. |
56,700 | 3,515,080 | ||||||
Japan Exchange Group, Inc. |
124,100 | 2,301,748 | ||||||
KDDI Corp. |
128,900 | 3,945,795 | ||||||
Keyence Corp. |
2,200 | 817,677 | ||||||
Kubota Corp. |
175,200 | 2,591,539 | ||||||
Makita Corp. |
50,300 | 1,246,022 | ||||||
MISUMI Group, Inc. |
75,900 | 1,185,028 | ||||||
Mitsubishi Heavy Industries Ltd. |
38,400 | 2,151,404 | ||||||
Mitsubishi UFJ Financial Group, Inc. |
740,400 | 6,280,028 | ||||||
MS&AD Insurance Group Holdings, Inc. |
66,200 | 2,421,291 | ||||||
Murata Manufacturing Co. Ltd. |
114,300 | 2,088,928 | ||||||
Nitori Holdings Co. Ltd. |
19,400 | 2,172,263 | ||||||
Recruit Holdings Co. Ltd. |
71,500 | 2,201,804 | ||||||
Sekisui Chemical Co. Ltd. |
153,200 | 2,205,436 | ||||||
Shimano, Inc. |
11,100 | 1,498,808 | ||||||
SMC Corp. |
6,000 | 2,685,790 | ||||||
Sony Group Corp. |
54,000 | 4,417,291 | ||||||
Terumo Corp. |
111,300 | 2,948,569 | ||||||
Toyota Motor Corp. |
185,000 | 3,324,313 | ||||||
|
|
|||||||
61,373,754 | ||||||||
|
|
|||||||
Luxembourg 1.1% |
| |||||||
Spotify Technology SA(1) |
19,427 | 3,004,191 | ||||||
|
|
|||||||
3,004,191 | ||||||||
|
|
|||||||
Netherlands 2.1% |
| |||||||
Akzo Nobel NV |
16,858 | 1,216,549 | ||||||
ASML Holding NV |
7,924 | 4,653,283 | ||||||
|
|
|||||||
5,869,832 | ||||||||
|
|
|||||||
Norway 1.7% |
| |||||||
DNB Bank ASA |
157,853 | 3,179,376 | ||||||
Norsk Hydro ASA |
235,698 | 1,479,373 | ||||||
|
|
|||||||
4,658,749 | ||||||||
|
|
|||||||
Portugal 0.6% |
| |||||||
Jeronimo Martins SGPS SA |
76,927 | 1,726,482 | ||||||
|
|
|||||||
1,726,482 | ||||||||
|
|
|||||||
Republic of Korea 1.8% |
| |||||||
Samsung Electronics Co. Ltd. |
69,883 | 3,540,620 | ||||||
Samsung SDI Co. Ltd. |
4,368 | 1,656,368 | ||||||
|
|
|||||||
5,196,988 | ||||||||
|
|
|||||||
Spain 4.0% |
| |||||||
Banco Bilbao Vizcaya Argentaria SA |
590,225 | 4,805,929 | ||||||
CaixaBank SA |
616,262 | 2,464,966 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN INTERNATIONAL EQUITY VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Spain (continued) |
| |||||||
Iberdrola SA |
352,469 | $ | 3,935,463 | |||||
|
|
|||||||
11,206,358 | ||||||||
|
|
|||||||
Sweden 2.5% |
| |||||||
Nibe Industrier AB, Class B |
108,517 | 707,169 | ||||||
Sandvik AB |
190,138 | 3,486,003 | ||||||
Svenska Handelsbanken AB, Class A |
312,633 | 2,779,083 | ||||||
|
|
|||||||
6,972,255 | ||||||||
|
|
|||||||
Switzerland 8.5% |
| |||||||
Alcon, Inc. |
42,552 | 3,288,188 | ||||||
Chocoladefabriken Lindt & Spruengli AG |
174 | 1,935,391 | ||||||
Cie Financiere Richemont SA, Reg S, Class A |
18,832 | 2,294,537 | ||||||
Lonza Group AG, Reg S |
6,215 | 2,875,351 | ||||||
Nestle SA, Reg S |
37,824 | 4,271,138 | ||||||
On Holding AG, Class A(1) |
53,185 | 1,479,607 | ||||||
Roche Holding AG |
23,732 | 6,473,263 | ||||||
Sika AG, Reg S |
5,364 | 1,359,545 | ||||||
|
|
|||||||
23,977,020 | ||||||||
|
|
|||||||
Taiwan 0.5% |
| |||||||
Taiwan Semiconductor Manufacturing Co. Ltd. |
87,000 | 1,411,844 | ||||||
|
|
|||||||
1,411,844 | ||||||||
|
|
|||||||
United Kingdom 20.0% |
| |||||||
Antofagasta PLC |
87,167 | 1,510,010 | ||||||
ARM Holdings PLC, ADR(1) |
7,340 | 392,837 | ||||||
AstraZeneca PLC |
44,891 | 6,041,287 | ||||||
Bunzl PLC |
68,569 | 2,433,694 | ||||||
Burberry Group PLC |
112,955 | 2,619,705 | ||||||
Diageo PLC |
76,577 | 2,824,070 | ||||||
GSK PLC |
185,406 | 3,351,711 | ||||||
HSBC Holdings PLC |
440,975 | 3,454,612 | ||||||
Kingfisher PLC |
412,962 | 1,119,383 | ||||||
National Grid PLC |
175,042 | 2,089,432 | ||||||
Prudential PLC |
231,937 | 2,497,526 | ||||||
Reckitt Benckiser Group PLC |
52,748 | 3,727,722 | ||||||
RELX PLC |
115,850 | 3,906,996 | ||||||
Shell PLC |
274,596 | 8,851,238 | ||||||
SSE PLC |
181,586 | 3,558,151 | ||||||
Unilever PLC |
115,682 | 5,708,692 | ||||||
Whitbread PLC |
50,496 | 2,124,188 | ||||||
|
|
|||||||
56,211,254 | ||||||||
|
|
|||||||
United States 2.6% |
| |||||||
Booking Holdings, Inc.(1) |
875 | 2,698,456 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C(1) |
21,677 | 1,350,477 | ||||||
Lululemon Athletica, Inc.(1) |
6,039 | 2,328,699 | ||||||
MercadoLibre, Inc.(1) |
682 | 864,694 | ||||||
|
|
|||||||
7,242,326 | ||||||||
|
|
|||||||
Total Common Stocks |
|
276,888,820 | ||||||
|
|
|||||||
Preferred Stocks 0.5% |
| |||||||
Germany 0.5% |
| |||||||
Dr. Ing. h.c. F. Porsche AG(3) |
16,457 | 1,547,809 | ||||||
|
|
|||||||
Total Preferred Stocks |
|
1,547,809 | ||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN INTERNATIONAL EQUITY VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Repurchase Agreements 0.7% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $2,045,104, due 10/2/2023(4) |
$ | 2,044,831 | $ | 2,044,831 | ||||
|
|
|||||||
Total Repurchase Agreements |
|
2,044,831 | ||||||
|
|
|||||||
Total Investments 99.6% |
|
280,481,460 | ||||||
|
|
|||||||
Assets in excess of other liabilities 0.4% |
|
1,039,104 | ||||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 281,520,564 | |||||
|
|
(1) | Nonincomeproducing security. |
(2) | The table below presents the security deemed illiquid by the investment adviser. |
Security |
Shares | Cost | Value | Acquisition Date |
% of Funds Net Assets |
|||||||||||||||
Contemporary Amperex Technology Co. Ltd., Class A |
31,300 | $ | 1,067,795 | $ | 877,473 | 5/17/2023 - 8/8/2023 | 0.31 | % |
(3) | Security 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 September 30, 2023, the aggregate market value of the security amounted to $1,547,809, representing 0.5% of net assets. This security has been deemed liquid by the investment adviser pursuant to the Funds 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 Note |
0.75 | % | 4/30/2026 | $ | 2,309,200 | $ | 2,085,794 |
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 September 30, 2023 in valuing the Funds 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 |
$ | | $ | 3,866,355 | * | $ | | $ | 3,866,355 | |||||||
Austria |
| 2,699,117 | * | | 2,699,117 | |||||||||||
Belgium |
| 2,297,144 | * | | 2,297,144 | |||||||||||
Brazil |
987,880 | | | 987,880 | ||||||||||||
Canada |
3,336,198 | | | 3,336,198 | ||||||||||||
Cayman Islands |
| 2,613,878 | * | | 2,613,878 | |||||||||||
China |
| 2,231,854 | * | | 2,231,854 | |||||||||||
Denmark |
| 11,268,034 | * | | 11,268,034 | |||||||||||
France |
| 25,071,413 | * | | 25,071,413 | |||||||||||
Germany |
| 16,131,664 | * | | 16,131,664 | |||||||||||
Hong Kong |
| 7,878,754 | * | | 7,878,754 | |||||||||||
India |
2,579,209 | | | 2,579,209 | ||||||||||||
Indonesia |
| 1,968,974 | * | | 1,968,974 | |||||||||||
Ireland |
2,181,599 | | | 2,181,599 | ||||||||||||
Italy |
| 2,925,694 | * | | 2,925,694 | |||||||||||
Japan |
| 61,373,754 | * | | 61,373,754 | |||||||||||
Luxembourg |
3,004,191 | | | 3,004,191 | ||||||||||||
Netherlands |
| 5,869,832 | * | | 5,869,832 | |||||||||||
Norway |
| 4,658,749 | * | | 4,658,749 | |||||||||||
Portugal |
| 1,726,482 | * | | 1,726,482 | |||||||||||
Republic of Korea |
| 5,196,988 | * | | 5,196,988 | |||||||||||
Spain |
| 11,206,358 | * | | 11,206,358 | |||||||||||
Sweden |
| 6,972,255 | * | | 6,972,255 | |||||||||||
Switzerland |
1,479,607 | 22,497,413 | * | | 23,977,020 | |||||||||||
Taiwan |
| 1,411,844 | * | | 1,411,844 | |||||||||||
United Kingdom |
392,837 | 55,818,417 | * | | 56,211,254 | |||||||||||
United States |
7,242,326 | | | 7,242,326 | ||||||||||||
Preferred Stocks |
||||||||||||||||
Germany |
| 1,547,809 | * | | 1,547,809 | |||||||||||
Repurchase Agreements |
| 2,044,831 | | 2,044,831 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 21,203,847 | $ | 259,277,613 | $ | | $ | 280,481,460 | ||||||||
|
|
|
|
|
|
|
|
* | 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
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 99.3% |
| |||||||
Aerospace & Defense 0.5% |
| |||||||
RTX Corp. |
29,405 | $ | 2,116,278 | |||||
|
|
|||||||
2,116,278 | ||||||||
|
|
|||||||
Automobiles 2.4% |
| |||||||
Tesla, Inc.(1) |
41,083 | 10,279,788 | ||||||
|
|
|||||||
10,279,788 | ||||||||
|
|
|||||||
Beverages 2.6% |
| |||||||
Brown-Forman Corp., Class B |
50,010 | 2,885,077 | ||||||
Constellation Brands, Inc., Class A |
15,722 | 3,951,410 | ||||||
Monster Beverage Corp.(1) |
84,175 | 4,457,066 | ||||||
|
|
|||||||
11,293,553 | ||||||||
|
|
|||||||
Biotechnology 1.4% |
| |||||||
Vertex Pharmaceuticals, Inc.(1) |
16,625 | 5,781,177 | ||||||
|
|
|||||||
5,781,177 | ||||||||
|
|
|||||||
Broadline Retail 6.2% |
| |||||||
Amazon.com, Inc.(1) |
207,155 | 26,333,544 | ||||||
|
|
|||||||
26,333,544 | ||||||||
|
|
|||||||
Building Products 0.6% |
| |||||||
Builders FirstSource, Inc.(1) |
20,079 | 2,499,635 | ||||||
|
|
|||||||
2,499,635 | ||||||||
|
|
|||||||
Capital Markets 2.3% |
| |||||||
Ares Management Corp., Class A |
33,443 | 3,440,282 | ||||||
Morgan Stanley |
30,154 | 2,462,677 | ||||||
S&P Global, Inc. |
10,620 | 3,880,654 | ||||||
|
|
|||||||
9,783,613 | ||||||||
|
|
|||||||
Chemicals 1.7% |
| |||||||
Albemarle Corp. |
12,928 | 2,198,277 | ||||||
Sherwin-Williams Co. |
19,226 | 4,903,591 | ||||||
|
|
|||||||
7,101,868 | ||||||||
|
|
|||||||
Consumer Finance 0.7% |
| |||||||
American Express Co. |
20,849 | 3,110,462 | ||||||
|
|
|||||||
3,110,462 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 3.6% |
| |||||||
Amphenol Corp., Class A |
57,364 | 4,818,002 | ||||||
CDW Corp. |
26,721 | 5,391,229 | ||||||
Jabil, Inc. |
41,775 | 5,300,830 | ||||||
|
|
|||||||
15,510,061 | ||||||||
|
|
|||||||
Financial Services 4.5% |
| |||||||
Block, Inc.(1) |
32,351 | 1,431,855 | ||||||
FleetCor Technologies, Inc.(1) |
11,639 | 2,971,902 | ||||||
Mastercard, Inc., Class A |
37,130 | 14,700,139 | ||||||
|
|
|||||||
19,103,896 | ||||||||
|
|
|||||||
Ground Transportation 1.3% |
| |||||||
Uber Technologies, Inc.(1) |
124,507 | 5,726,077 | ||||||
|
|
|||||||
5,726,077 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 1.6% |
| |||||||
Boston Scientific Corp.(1) |
72,182 | 3,811,210 | ||||||
Edwards Lifesciences Corp.(1) |
40,790 | 2,825,931 | ||||||
|
|
|||||||
6,637,141 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN LARGE CAP DISCIPLINED GROWTH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Health Care Providers & Services 2.7% |
| |||||||
UnitedHealth Group, Inc. |
23,311 | $ | 11,753,173 | |||||
|
|
|||||||
11,753,173 | ||||||||
|
|
|||||||
Health Care Technology 1.1% |
| |||||||
Veeva Systems, Inc., Class A(1) |
23,409 | 4,762,561 | ||||||
|
|
|||||||
4,762,561 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 2.4% |
| |||||||
Airbnb, Inc., Class A(1) |
27,966 | 3,837,215 | ||||||
Chipotle Mexican Grill, Inc.(1) |
3,598 | 6,590,924 | ||||||
|
|
|||||||
10,428,139 | ||||||||
|
|
|||||||
Insurance 0.9% |
| |||||||
Arch Capital Group Ltd.(1) |
50,081 | 3,991,956 | ||||||
|
|
|||||||
3,991,956 | ||||||||
|
|
|||||||
Interactive Media & Services 10.2% |
| |||||||
Alphabet, Inc., Class A(1) |
161,745 | 21,165,951 | ||||||
Meta Platforms, Inc., Class A(1) |
67,516 | 20,268,978 | ||||||
ZoomInfo Technologies, Inc.(1) |
146,115 | 2,396,286 | ||||||
|
|
|||||||
43,831,215 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 1.0% |
| |||||||
Thermo Fisher Scientific, Inc. |
8,163 | 4,131,866 | ||||||
|
|
|||||||
4,131,866 | ||||||||
|
|
|||||||
Machinery 3.4% |
| |||||||
Deere & Co. |
16,388 | 6,184,503 | ||||||
Ingersoll Rand, Inc. |
66,707 | 4,250,570 | ||||||
Nordson Corp. |
18,697 | 4,172,610 | ||||||
|
|
|||||||
14,607,683 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 0.7% |
| |||||||
Pioneer Natural Resources Co. |
13,712 | 3,147,590 | ||||||
|
|
|||||||
3,147,590 | ||||||||
|
|
|||||||
Personal Care Products 1.2% |
| |||||||
Estee Lauder Cos., Inc., Class A |
34,527 | 4,990,878 | ||||||
|
|
|||||||
4,990,878 | ||||||||
|
|
|||||||
Pharmaceuticals 4.0% |
| |||||||
Eli Lilly & Co. |
25,280 | 13,578,646 | ||||||
Merck & Co., Inc. |
35,189 | 3,622,708 | ||||||
|
|
|||||||
17,201,354 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 10.4% |
| |||||||
Advanced Micro Devices, Inc.(1) |
31,752 | 3,264,741 | ||||||
Broadcom, Inc. |
12,098 | 10,048,357 | ||||||
KLA Corp. |
12,043 | 5,523,642 | ||||||
NVIDIA Corp. |
48,167 | 20,952,163 | ||||||
Texas Instruments, Inc. |
30,623 | 4,869,363 | ||||||
|
|
|||||||
44,658,266 | ||||||||
|
|
|||||||
Software 18.6% |
| |||||||
Cadence Design Systems, Inc.(1) |
19,404 | 4,546,357 | ||||||
HubSpot, Inc.(1) |
6,475 | 3,188,938 | ||||||
Intuit, Inc. |
11,669 | 5,962,159 | ||||||
Microsoft Corp. |
134,410 | 42,439,957 | ||||||
Palo Alto Networks, Inc.(1) |
19,029 | 4,461,159 | ||||||
Salesforce, Inc.(1) |
25,677 | 5,206,782 | ||||||
ServiceNow, Inc.(1) |
13,058 | 7,298,900 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN LARGE CAP DISCIPLINED GROWTH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Software (continued) |
| |||||||
Workday, Inc., Class A(1) |
29,100 | $ | 6,252,135 | |||||
|
|
|||||||
79,356,387 | ||||||||
|
|
|||||||
Specialty Retail 1.4% |
| |||||||
TJX Cos., Inc. |
64,873 | 5,765,912 | ||||||
|
|
|||||||
5,765,912 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 8.8% |
| |||||||
Apple, Inc. |
220,152 | 37,692,225 | ||||||
|
|
|||||||
37,692,225 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods 3.1% |
| |||||||
Lululemon Athletica, Inc.(1) |
17,370 | 6,698,046 | ||||||
NIKE, Inc., Class B |
66,563 | 6,364,754 | ||||||
|
|
|||||||
13,062,800 | ||||||||
|
|
|||||||
Total Common Stocks |
|
424,659,098 | ||||||
|
|
|||||||
Principal Amount |
Value | |||||||
Repurchase Agreements 1.2% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $5,316,111, due 10/2/2023(2) |
$ | 5,315,402 | 5,315,402 | |||||
|
|
|||||||
Total Repurchase Agreements |
|
5,315,402 | ||||||
|
|
|||||||
Total Investments 100.5% |
|
429,974,500 | ||||||
|
|
|||||||
Liabilities in excess of other assets (0.5)% |
|
(2,216,360 | ) | |||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 427,758,140 | |||||
|
|
(1) | Nonincomeproducing security. |
(2) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 6,002,500 | $ | 5,421,783 |
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 September 30, 2023 in valuing the Funds 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 |
$ | 424,659,098 | $ | | $ | | $ | 424,659,098 | ||||||||
Repurchase Agreements |
| 5,315,402 | | 5,315,402 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 424,659,098 | $ | 5,315,402 | $ | | $ | 429,974,500 | ||||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN LARGE CAP DISCIPLINED VALUE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 97.8% |
| |||||||
Aerospace & Defense 4.0% |
| |||||||
General Dynamics Corp. |
9,777 | $ | 2,160,424 | |||||
Howmet Aerospace, Inc. |
32,842 | 1,518,942 | ||||||
RTX Corp. |
26,632 | 1,916,705 | ||||||
|
|
|||||||
5,596,071 | ||||||||
|
|
|||||||
Automobile Components 0.6% |
| |||||||
BorgWarner, Inc. |
20,961 | 846,196 | ||||||
|
|
|||||||
846,196 | ||||||||
|
|
|||||||
Banks 5.4% |
| |||||||
JPMorgan Chase & Co. |
35,539 | 5,153,866 | ||||||
Wells Fargo & Co. |
61,568 | 2,515,668 | ||||||
|
|
|||||||
7,669,534 | ||||||||
|
|
|||||||
Beverages 2.2% |
| |||||||
Coca-Cola Europacific Partners PLC |
17,693 | 1,105,459 | ||||||
Keurig Dr Pepper, Inc. |
64,098 | 2,023,574 | ||||||
|
|
|||||||
3,129,033 | ||||||||
|
|
|||||||
Biotechnology 1.2% |
| |||||||
Amgen, Inc. |
6,304 | 1,694,263 | ||||||
|
|
|||||||
1,694,263 | ||||||||
|
|
|||||||
Building Products 1.4% |
| |||||||
Allegion PLC |
9,670 | 1,007,614 | ||||||
Masco Corp. |
17,632 | 942,430 | ||||||
|
|
|||||||
1,950,044 | ||||||||
|
|
|||||||
Capital Markets 4.2% |
| |||||||
Ares Management Corp., Class A |
6,439 | 662,380 | ||||||
Goldman Sachs Group, Inc. |
5,208 | 1,685,153 | ||||||
Intercontinental Exchange, Inc. |
10,465 | 1,151,359 | ||||||
Morgan Stanley |
30,047 | 2,453,938 | ||||||
|
|
|||||||
5,952,830 | ||||||||
|
|
|||||||
Chemicals 1.7% |
| |||||||
Corteva, Inc. |
10,190 | 521,320 | ||||||
DuPont de Nemours, Inc. |
17,172 | 1,280,860 | ||||||
Olin Corp. |
11,639 | 581,717 | ||||||
|
|
|||||||
2,383,897 | ||||||||
|
|
|||||||
Communications Equipment 2.4% |
| |||||||
Cisco Systems, Inc. |
64,113 | 3,446,715 | ||||||
|
|
|||||||
3,446,715 | ||||||||
|
|
|||||||
Construction Materials 1.1% |
| |||||||
CRH PLC |
27,161 | 1,486,522 | ||||||
|
|
|||||||
1,486,522 | ||||||||
|
|
|||||||
Consumer Finance 2.0% |
| |||||||
American Express Co. |
7,150 | 1,066,708 | ||||||
Discover Financial Services |
19,504 | 1,689,632 | ||||||
|
|
|||||||
2,756,340 | ||||||||
|
|
|||||||
Consumer Staples Distribution & Retail 2.8% |
| |||||||
U.S. Foods Holding Corp.(1) |
38,262 | 1,519,001 | ||||||
Walmart, Inc. |
15,462 | 2,472,838 | ||||||
|
|
|||||||
3,991,839 | ||||||||
|
|
|||||||
Distributors 0.6% |
| |||||||
LKQ Corp. |
15,776 | 781,070 | ||||||
|
|
|||||||
781,070 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN LARGE CAP DISCIPLINED VALUE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Electric Utilities 0.8% |
| |||||||
FirstEnergy Corp. |
31,266 | $ | 1,068,672 | |||||
|
|
|||||||
1,068,672 | ||||||||
|
|
|||||||
Electrical Equipment 1.0% |
| |||||||
Eaton Corp. PLC |
6,413 | 1,367,765 | ||||||
|
|
|||||||
1,367,765 | ||||||||
|
|
|||||||
Energy Equipment & Services 2.6% |
| |||||||
Halliburton Co. |
35,289 | 1,429,204 | ||||||
Schlumberger NV |
38,986 | 2,272,884 | ||||||
|
|
|||||||
3,702,088 | ||||||||
|
|
|||||||
Entertainment 1.0% |
| |||||||
Take-Two Interactive Software, Inc.(1) |
4,441 | 623,472 | ||||||
Warner Bros Discovery, Inc.(1) |
70,344 | 763,936 | ||||||
|
|
|||||||
1,387,408 | ||||||||
|
|
|||||||
Financial Services 6.1% |
| |||||||
Berkshire Hathaway, Inc., Class B(1) |
14,664 | 5,136,799 | ||||||
FleetCor Technologies, Inc.(1) |
6,382 | 1,629,580 | ||||||
Global Payments, Inc. |
15,532 | 1,792,238 | ||||||
|
|
|||||||
8,558,617 | ||||||||
|
|
|||||||
Health Care Providers & Services 6.7% |
| |||||||
Cencora, Inc. |
10,222 | 1,839,653 | ||||||
Centene Corp.(1) |
22,919 | 1,578,661 | ||||||
Cigna Group |
6,835 | 1,955,288 | ||||||
McKesson Corp. |
3,669 | 1,595,465 | ||||||
UnitedHealth Group, Inc. |
4,845 | 2,442,801 | ||||||
|
|
|||||||
9,411,868 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 1.3% |
| |||||||
Booking Holdings, Inc.(1) |
370 | 1,141,061 | ||||||
MGM Resorts International(1) |
19,064 | 700,793 | ||||||
|
|
|||||||
1,841,854 | ||||||||
|
|
|||||||
Household Durables 1.9% |
| |||||||
Mohawk Industries, Inc.(1) |
10,319 | 885,474 | ||||||
Sony Group Corp., ADR |
13,152 | 1,083,856 | ||||||
Whirlpool Corp. |
4,860 | 649,782 | ||||||
|
|
|||||||
2,619,112 | ||||||||
|
|
|||||||
Insurance 3.4% |
| |||||||
Aon PLC, Class A |
2,403 | 779,101 | ||||||
Arthur J Gallagher & Co. |
5,593 | 1,274,813 | ||||||
Chubb Ltd. |
7,973 | 1,659,819 | ||||||
Progressive Corp. |
7,394 | 1,029,984 | ||||||
|
|
|||||||
4,743,717 | ||||||||
|
|
|||||||
Interactive Media & Services 3.7% |
| |||||||
Alphabet, Inc., Class A(1) |
36,442 | 4,768,800 | ||||||
Match Group, Inc.(1) |
13,030 | 510,450 | ||||||
|
|
|||||||
5,279,250 | ||||||||
|
|
|||||||
IT Services 0.9% |
| |||||||
Cognizant Technology Solutions Corp., Class A |
19,059 | 1,291,057 | ||||||
|
|
|||||||
1,291,057 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 2.3% |
| |||||||
Avantor, Inc.(1) |
72,906 | 1,536,858 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN LARGE CAP DISCIPLINED VALUE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Life Sciences Tools & Services (continued) |
| |||||||
ICON PLC(1) |
7,107 | $ | 1,750,099 | |||||
|
|
|||||||
3,286,957 | ||||||||
|
|
|||||||
Machinery 4.4% |
| |||||||
Caterpillar, Inc. |
2,665 | 727,545 | ||||||
Deere & Co. |
3,208 | 1,210,635 | ||||||
Dover Corp. |
6,331 | 883,238 | ||||||
Fortive Corp. |
19,669 | 1,458,653 | ||||||
Otis Worldwide Corp. |
10,120 | 812,737 | ||||||
Westinghouse Air Brake Technologies Corp. |
10,606 | 1,127,100 | ||||||
|
|
|||||||
6,219,908 | ||||||||
|
|
|||||||
Media 0.9% |
| |||||||
Omnicom Group, Inc. |
16,282 | 1,212,683 | ||||||
|
|
|||||||
1,212,683 | ||||||||
|
|
|||||||
Metals & Mining 0.5% |
| |||||||
Teck Resources Ltd., Class B |
18,074 | 778,809 | ||||||
|
|
|||||||
778,809 | ||||||||
|
|
|||||||
Multi-Utilities 0.5% |
| |||||||
CenterPoint Energy, Inc. |
25,246 | 677,855 | ||||||
|
|
|||||||
677,855 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 8.8% |
| |||||||
Canadian Natural Resources Ltd. |
33,656 | 2,176,533 | ||||||
Cenovus Energy, Inc. |
108,649 | 2,262,072 | ||||||
ConocoPhillips |
16,994 | 2,035,881 | ||||||
Exxon Mobil Corp. |
13,416 | 1,577,453 | ||||||
Marathon Petroleum Corp. |
16,538 | 2,502,861 | ||||||
Peabody Energy Corp. |
28,433 | 738,974 | ||||||
Pioneer Natural Resources Co. |
5,063 | 1,162,212 | ||||||
|
|
|||||||
12,455,986 | ||||||||
|
|
|||||||
Personal Care Products 0.5% |
| |||||||
Kenvue, Inc. |
34,017 | 683,061 | ||||||
|
|
|||||||
683,061 | ||||||||
|
|
|||||||
Pharmaceuticals 3.9% |
| |||||||
Bristol-Myers Squibb Co. |
61,734 | 3,583,041 | ||||||
Sanofi, ADR |
36,847 | 1,976,473 | ||||||
|
|
|||||||
5,559,514 | ||||||||
|
|
|||||||
Professional Services 1.9% |
| |||||||
Jacobs Solutions, Inc. |
3,748 | 511,602 | ||||||
Leidos Holdings, Inc. |
12,656 | 1,166,377 | ||||||
SS&C Technologies Holdings, Inc. |
18,562 | 975,247 | ||||||
|
|
|||||||
2,653,226 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 6.1% |
| |||||||
Advanced Micro Devices, Inc.(1) |
15,101 | 1,552,685 | ||||||
Applied Materials, Inc. |
11,987 | 1,659,600 | ||||||
Lam Research Corp. |
1,338 | 838,618 | ||||||
Microchip Technology, Inc. |
19,650 | 1,533,683 | ||||||
Micron Technology, Inc. |
24,066 | 1,637,210 | ||||||
NXP Semiconductors NV |
1,509 | 301,679 | ||||||
QUALCOMM, Inc. |
10,167 | 1,129,147 | ||||||
|
|
|||||||
8,652,622 | ||||||||
|
|
|||||||
Specialty Retail 2.5% |
| |||||||
AutoZone, Inc.(1) |
1,092 | 2,773,669 | ||||||
Ulta Beauty, Inc.(1) |
1,752 | 699,836 | ||||||
|
|
|||||||
3,473,505 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN LARGE CAP DISCIPLINED VALUE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Technology Hardware, Storage & Peripherals 1.2% |
| |||||||
Dell Technologies, Inc., Class C |
24,238 | $ | 1,669,998 | |||||
|
|
|||||||
1,669,998 | ||||||||
|
|
|||||||
Tobacco 1.7% |
| |||||||
Philip Morris International, Inc. |
25,228 | 2,335,608 | ||||||
|
|
|||||||
2,335,608 | ||||||||
|
|
|||||||
Trading Companies & Distributors 2.2% |
| |||||||
United Rentals, Inc. |
4,331 | 1,925,433 | ||||||
WESCO International, Inc. |
8,289 | 1,192,124 | ||||||
|
|
|||||||
3,117,557 | ||||||||
|
|
|||||||
Wireless Telecommunication Services 1.4% |
| |||||||
T-Mobile U.S., Inc.(1) |
14,046 | 1,967,142 | ||||||
|
|
|||||||
1,967,142 | ||||||||
|
|
|||||||
Total Common Stocks |
|
137,700,193 | ||||||
|
|
|||||||
Principal Amount |
Value | |||||||
Repurchase Agreements 0.6% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $911,136, due 10/2/2023(2) |
$ | 911,015 | 911,015 | |||||
|
|
|||||||
Total Repurchase Agreements |
|
911,015 | ||||||
|
|
|||||||
Total Investments 98.4% |
|
138,611,208 | ||||||
|
|
|||||||
Assets in excess of other liabilities 1.6% |
|
2,198,103 | ||||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 140,809,311 | |||||
|
|
(1) | Nonincomeproducing security. |
(2) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 1,028,800 | $ | 929,268 |
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 September 30, 2023 in valuing the Funds 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 |
$ | 137,700,193 | $ | | $ | | $ | 137,700,193 | ||||||||
Repurchase Agreements |
| 911,015 | | 911,015 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 137,700,193 | $ | 911,015 | $ | | $ | 138,611,208 | ||||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN LARGE CAP FUNDAMENTAL GROWTH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 99.9% |
| |||||||
Automobiles 0.4% |
| |||||||
BYD Co. Ltd., Class H (China) |
33,500 | $ | 1,031,176 | |||||
|
|
|||||||
1,031,176 | ||||||||
|
|
|||||||
Banks 0.0% |
| |||||||
HDFC Bank Ltd., ADR |
1,600 | 94,416 | ||||||
|
|
|||||||
94,416 | ||||||||
|
|
|||||||
Beverages 1.3% |
| |||||||
Boston Beer Co., Inc., Class A(1) |
2,400 | 934,872 | ||||||
Monster Beverage Corp.(1) |
39,844 | 2,109,740 | ||||||
|
|
|||||||
3,044,612 | ||||||||
|
|
|||||||
Biotechnology 5.9% |
| |||||||
2seventy bio, Inc.(1) |
2,600 | 10,192 | ||||||
Affimed NV(1) |
14,400 | 6,882 | ||||||
Alnylam Pharmaceuticals, Inc.(1) |
9,100 | 1,611,610 | ||||||
Arcellx, Inc.(1) |
2,400 | 86,112 | ||||||
Arrowhead Pharmaceuticals, Inc.(1) |
1,400 | 37,618 | ||||||
Beam Therapeutics, Inc.(1) |
2,123 | 51,058 | ||||||
BioMarin Pharmaceutical, Inc.(1) |
5,300 | 468,944 | ||||||
Blueprint Medicines Corp.(1) |
1,400 | 70,308 | ||||||
Cytokinetics, Inc.(1) |
6,100 | 179,706 | ||||||
Evelo Biosciences, Inc.(1) |
620 | 2,431 | ||||||
Galapagos NV, ADR(1) |
13,900 | 480,245 | ||||||
Gamida Cell Ltd.(1) |
59,800 | 61,594 | ||||||
Genmab AS (Denmark)(1) |
1,000 | 353,880 | ||||||
Hookipa Pharma, Inc.(1) |
22,700 | 13,983 | ||||||
Immunocore Holdings PLC, ADR(1) |
6,100 | 316,590 | ||||||
Insmed, Inc.(1) |
21,800 | 550,450 | ||||||
Regeneron Pharmaceuticals, Inc.(1) |
2,643 | 2,175,083 | ||||||
Sarepta Therapeutics, Inc.(1) |
1,900 | 230,318 | ||||||
Seagen, Inc.(1) |
8,469 | 1,796,698 | ||||||
Vertex Pharmaceuticals, Inc.(1) |
15,550 | 5,407,357 | ||||||
Vor BioPharma, Inc.(1) |
16,800 | 35,616 | ||||||
XOMA Corp.(1) |
9,400 | 132,446 | ||||||
|
|
|||||||
14,079,121 | ||||||||
|
|
|||||||
Broadline Retail 4.7% |
| |||||||
Amazon.com, Inc.(1) |
69,775 | 8,869,798 | ||||||
Dollarama, Inc. (Canada) |
2,100 | 144,685 | ||||||
MercadoLibre, Inc.(1) |
1,716 | 2,175,682 | ||||||
|
|
|||||||
11,190,165 | ||||||||
|
|
|||||||
Capital Markets 1.1% |
| |||||||
CME Group, Inc. |
13,377 | 2,678,343 | ||||||
|
|
|||||||
2,678,343 | ||||||||
|
|
|||||||
Chemicals 0.1% |
| |||||||
Aspen Aerogels, Inc.(1) |
16,200 | 139,320 | ||||||
|
|
|||||||
139,320 | ||||||||
|
|
|||||||
Electrical Equipment 1.5% |
| |||||||
Bloom Energy Corp., Class A(1) |
2,600 | 34,476 | ||||||
Eaton Corp. PLC |
13,684 | 2,918,524 | ||||||
Hubbell, Inc. |
2,000 | 626,820 | ||||||
|
|
|||||||
3,579,820 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 1.8% |
| |||||||
Flex Ltd.(1) |
95,997 | 2,589,999 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN LARGE CAP FUNDAMENTAL GROWTH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Electronic Equipment, Instruments & Components (continued) |
| |||||||
Jabil, Inc. |
13,897 | $ | 1,763,390 | |||||
|
|
|||||||
4,353,389 | ||||||||
|
|
|||||||
Energy Equipment & Services 0.6% |
| |||||||
Baker Hughes Co. |
37,490 | 1,324,147 | ||||||
|
|
|||||||
1,324,147 | ||||||||
|
|
|||||||
Entertainment 4.8% |
| |||||||
Netflix, Inc.(1) |
10,324 | 3,898,342 | ||||||
Universal Music Group NV (Netherlands) |
182,763 | 4,752,709 | ||||||
Warner Music Group Corp., Class A |
89,433 | 2,808,196 | ||||||
|
|
|||||||
11,459,247 | ||||||||
|
|
|||||||
Financial Services 2.0% |
| |||||||
Apollo Global Management, Inc. |
2,700 | 242,352 | ||||||
Mastercard, Inc., Class A |
11,345 | 4,491,599 | ||||||
Rocket Cos., Inc., Class A(1) |
5,600 | 45,808 | ||||||
|
|
|||||||
4,779,759 | ||||||||
|
|
|||||||
Ground Transportation 3.8% |
| |||||||
Uber Technologies, Inc.(1) |
196,056 | 9,016,615 | ||||||
|
|
|||||||
9,016,615 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 2.1% |
| |||||||
Axonics, Inc.(1) |
4,900 | 274,988 | ||||||
Boston Scientific Corp.(1) |
68,428 | 3,612,998 | ||||||
Inspire Medical Systems, Inc.(1) |
2,300 | 456,412 | ||||||
Lantheus Holdings, Inc.(1) |
2,500 | 173,700 | ||||||
Penumbra, Inc.(1) |
1,700 | 411,247 | ||||||
|
|
|||||||
4,929,345 | ||||||||
|
|
|||||||
Health Care Providers & Services 2.7% |
| |||||||
HealthEquity, Inc.(1) |
34,954 | 2,553,390 | ||||||
UnitedHealth Group, Inc. |
7,400 | 3,731,006 | ||||||
|
|
|||||||
6,284,396 | ||||||||
|
|
|||||||
Health Care Technology 0.1% |
| |||||||
Simulations Plus, Inc. |
3,200 | 133,440 | ||||||
|
|
|||||||
133,440 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 2.2% |
| |||||||
Airbnb, Inc., Class A(1) |
14,000 | 1,920,940 | ||||||
Booking Holdings, Inc.(1) |
476 | 1,467,960 | ||||||
Flutter Entertainment PLC (Australia)(1) |
10,100 | 1,645,629 | ||||||
Kura Sushi USA, Inc., Class A(1) |
3,800 | 251,256 | ||||||
|
|
|||||||
5,285,785 | ||||||||
|
|
|||||||
Industrial Conglomerates 1.5% |
| |||||||
General Electric Co. |
32,420 | 3,584,031 | ||||||
|
|
|||||||
3,584,031 | ||||||||
|
|
|||||||
Insurance 1.6% |
| |||||||
Arthur J Gallagher & Co. |
9,086 | 2,070,972 | ||||||
BRP Group, Inc., Class A(1) |
24,168 | 561,423 | ||||||
Marsh & McLennan Cos., Inc. |
5,700 | 1,084,710 | ||||||
|
|
|||||||
3,717,105 | ||||||||
|
|
|||||||
Interactive Media & Services 5.1% |
| |||||||
Alphabet, Inc., Class A(1) |
92,126 | 12,055,608 | ||||||
|
|
|||||||
12,055,608 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN LARGE CAP FUNDAMENTAL GROWTH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
IT Services 2.2% |
| |||||||
Gartner, Inc.(1) |
2,500 | $ | 859,025 | |||||
MongoDB, Inc.(1) |
7,092 | 2,452,839 | ||||||
Shopify, Inc., Class A(1) |
15,804 | 862,424 | ||||||
Snowflake, Inc., Class A(1) |
6,200 | 947,174 | ||||||
|
|
|||||||
5,121,462 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 2.9% |
| |||||||
Agilent Technologies, Inc. |
2,100 | 234,822 | ||||||
Bio-Techne Corp. |
8,288 | 564,164 | ||||||
Bruker Corp. |
16,091 | 1,002,469 | ||||||
Charles River Laboratories International, Inc.(1) |
3,953 | 774,709 | ||||||
Codexis, Inc.(1) |
30,200 | 57,078 | ||||||
Danaher Corp. |
4,749 | 1,178,227 | ||||||
Repligen Corp.(1) |
5,551 | 882,664 | ||||||
Sartorius Stedim Biotech (France) |
3,313 | 788,416 | ||||||
Thermo Fisher Scientific, Inc. |
2,829 | 1,431,955 | ||||||
|
|
|||||||
6,914,504 | ||||||||
|
|
|||||||
Machinery 2.0% |
| |||||||
Energy Recovery, Inc.(1) |
10,300 | 218,463 | ||||||
Ingersoll Rand, Inc. |
37,693 | 2,401,798 | ||||||
Parker-Hannifin Corp. |
3,937 | 1,533,540 | ||||||
Westinghouse Air Brake Technologies Corp. |
6,200 | 658,874 | ||||||
|
|
|||||||
4,812,675 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 3.7% |
| |||||||
Cheniere Energy, Inc. |
22,700 | 3,767,292 | ||||||
New Fortress Energy, Inc. |
15,600 | 511,368 | ||||||
Range Resources Corp. |
48,100 | 1,558,921 | ||||||
Reliance Industries Ltd., GDR(2) |
43,403 | 2,426,228 | ||||||
Southwestern Energy Co.(1) |
60,000 | 387,000 | ||||||
|
|
|||||||
8,650,809 | ||||||||
|
|
|||||||
Passenger Airlines 0.5% |
| |||||||
Ryanair Holdings PLC, ADR(1) |
11,700 | 1,137,357 | ||||||
|
|
|||||||
1,137,357 | ||||||||
|
|
|||||||
Personal Care Products 0.4% |
| |||||||
Estee Lauder Cos., Inc., Class A |
5,500 | 795,025 | ||||||
Kenvue, Inc. |
5,400 | 108,432 | ||||||
|
|
|||||||
903,457 | ||||||||
|
|
|||||||
Pharmaceuticals 3.0% |
| |||||||
Aclaris Therapeutics, Inc.(1) |
4,400 | 30,140 | ||||||
AstraZeneca PLC, ADR |
19,900 | 1,347,628 | ||||||
Eli Lilly & Co. |
10,485 | 5,631,808 | ||||||
Revance Therapeutics, Inc.(1) |
16,900 | 193,843 | ||||||
|
|
|||||||
7,203,419 | ||||||||
|
|
|||||||
Professional Services 3.0% |
| |||||||
Equifax, Inc. |
16,400 | 3,004,152 | ||||||
KBR, Inc. |
49,900 | 2,941,106 | ||||||
TransUnion |
14,500 | 1,040,955 | ||||||
|
|
|||||||
6,986,213 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 13.1% |
| |||||||
AIXTRON SE (Germany) |
24,100 | 886,398 | ||||||
Allegro MicroSystems, Inc.(1) |
11,447 | 365,617 | ||||||
ASML Holding NV |
1,836 | 1,080,780 | ||||||
BE Semiconductor Industries NV (Netherlands) |
13,381 | 1,308,385 | ||||||
KLA Corp. |
3,033 | 1,391,116 | ||||||
Monolithic Power Systems, Inc. |
1,551 | 716,562 | ||||||
NVIDIA Corp. |
39,266 | 17,080,317 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN LARGE CAP FUNDAMENTAL GROWTH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Semiconductors & Semiconductor Equipment (continued) |
| |||||||
NXP Semiconductors NV |
11,500 | $ | 2,299,080 | |||||
SiTime Corp.(1) |
9,544 | 1,090,402 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR |
40,386 | 3,509,543 | ||||||
Universal Display Corp. |
8,754 | 1,374,291 | ||||||
|
|
|||||||
31,102,491 | ||||||||
|
|
|||||||
Software 18.0% |
| |||||||
Confluent, Inc., Class A(1) |
41,067 | 1,215,994 | ||||||
HubSpot, Inc.(1) |
3,542 | 1,744,435 | ||||||
Manhattan Associates, Inc.(1) |
8,348 | 1,650,066 | ||||||
Microsoft Corp. |
103,915 | 32,811,161 | ||||||
Nice Ltd., ADR(1) |
4,300 | 731,000 | ||||||
Oracle Corp. |
33,649 | 3,564,102 | ||||||
ServiceNow, Inc.(1) |
1,500 | 838,440 | ||||||
Volue ASA (Norway)(1) |
34,970 | 71,152 | ||||||
|
|
|||||||
42,626,350 | ||||||||
|
|
|||||||
Specialty Retail 1.4% |
| |||||||
Floor & Decor Holdings, Inc., Class A(1) |
8,300 | 751,150 | ||||||
TJX Cos., Inc. |
29,974 | 2,664,089 | ||||||
|
|
|||||||
3,415,239 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 4.3% |
| |||||||
Apple, Inc. |
59,647 | 10,212,163 | ||||||
|
|
|||||||
10,212,163 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods 1.2% |
| |||||||
LVMH Moet Hennessy Louis Vuitton SE (France) |
1,700 | 1,282,526 | ||||||
Samsonite International SA(1)(2) |
425,700 | 1,456,716 | ||||||
|
|
|||||||
2,739,242 | ||||||||
|
|
|||||||
Trading Companies & Distributors 0.9% |
| |||||||
Ferguson PLC (United Kingdom) |
13,600 | 2,236,189 | ||||||
|
|
|||||||
2,236,189 | ||||||||
|
|
|||||||
Total Investments 99.9% |
|
236,821,410 | ||||||
|
|
|||||||
Assets in excess of other liabilities 0.1% |
|
222,349 | ||||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 237,043,759 | |||||
|
|
(1) | Nonincomeproducing 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 September 30, 2023, the aggregate market value of these securities amounted to $3,882,944, representing 1.6% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Funds liquidity procedures approved by the Board of Trustees. |
Legend:
ADR American Depositary Receipt
GDR Global 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 September 30, 2023 in valuing the Funds 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 |
$ | 221,008,234 | $ | 15,813,176 | * | $ | | $ | 236,821,410 | |||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 221,008,234 | $ | 15,813,176 | $ | | $ | 236,821,410 | ||||||||
|
|
|
|
|
|
|
|
* | 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 TRADITIONAL GROWTH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 98.5% |
| |||||||
Aerospace & Defense 1.3% |
| |||||||
L3Harris Technologies, Inc. |
5,683 | $ | 989,524 | |||||
|
|
|||||||
989,524 | ||||||||
|
|
|||||||
Biotechnology 2.9% |
| |||||||
Argenx SE, ADR(1) |
1,512 | 743,345 | ||||||
Ascendis Pharma AS, ADR(1) |
4,331 | 405,555 | ||||||
BioMarin Pharmaceutical, Inc.(1) |
5,736 | 507,521 | ||||||
Sarepta Therapeutics, Inc.(1) |
4,346 | 526,822 | ||||||
|
|
|||||||
2,183,243 | ||||||||
|
|
|||||||
Capital Markets 3.8% |
| |||||||
Cboe Global Markets, Inc. |
3,598 | 562,043 | ||||||
Charles Schwab Corp. |
10,561 | 579,799 | ||||||
LPL Financial Holdings, Inc. |
5,944 | 1,412,592 | ||||||
MSCI, Inc. |
627 | 321,701 | ||||||
|
|
|||||||
2,876,135 | ||||||||
|
|
|||||||
Chemicals 1.1% |
| |||||||
Corteva, Inc. |
15,786 | 807,612 | ||||||
|
|
|||||||
807,612 | ||||||||
|
|
|||||||
Commercial Services & Supplies 4.1% |
| |||||||
Cimpress PLC(1) |
9,712 | 679,937 | ||||||
Clean Harbors, Inc.(1) |
3,195 | 534,715 | ||||||
RB Global, Inc. |
12,028 | 751,750 | ||||||
Rentokil Initial PLC (United Kingdom) |
19,791 | 146,715 | ||||||
Rentokil Initial PLC, ADR |
26,267 | 973,193 | ||||||
|
|
|||||||
3,086,310 | ||||||||
|
|
|||||||
Consumer Staples Distribution & Retail 0.6% |
| |||||||
Dollar Tree, Inc.(1) |
4,376 | 465,825 | ||||||
|
|
|||||||
465,825 | ||||||||
|
|
|||||||
Containers & Packaging 0.4% |
| |||||||
Sealed Air Corp. |
9,164 | 301,129 | ||||||
|
|
|||||||
301,129 | ||||||||
|
|
|||||||
Diversified Consumer Services 0.3% |
| |||||||
Frontdoor, Inc.(1) |
7,952 | 243,252 | ||||||
|
|
|||||||
243,252 | ||||||||
|
|
|||||||
Electric Utilities 1.4% |
| |||||||
Alliant Energy Corp. |
22,087 | 1,070,115 | ||||||
|
|
|||||||
1,070,115 | ||||||||
|
|
|||||||
Electrical Equipment 2.7% |
| |||||||
Regal Rexnord Corp. |
3,002 | 428,926 | ||||||
Sensata Technologies Holding PLC |
42,724 | 1,615,821 | ||||||
|
|
|||||||
2,044,747 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 6.8% |
| |||||||
Flex Ltd.(1) |
71,024 | 1,916,227 | ||||||
National Instruments Corp. |
13,880 | 827,526 | ||||||
TE Connectivity Ltd. |
6,411 | 791,951 | ||||||
Teledyne Technologies, Inc.(1) |
3,956 | 1,616,342 | ||||||
|
|
|||||||
5,152,046 | ||||||||
|
|
|||||||
Entertainment 1.9% |
| |||||||
Atlanta Braves Holdings, Inc., Class C(1) |
49 | 1,751 | ||||||
Liberty Media Corp.-Liberty Formula One, Class A(1) |
1,310 | 74,067 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C(1) |
21,595 | 1,345,369 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MID CAP TRADITIONAL GROWTH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Entertainment (continued) |
| |||||||
Liberty Media Corp.-Liberty Live, Class C(1) |
922 | $ | 29,596 | |||||
|
|
|||||||
1,450,783 | ||||||||
|
|
|||||||
Financial Services 4.8% |
| |||||||
Fidelity National Information Services, Inc. |
9,357 | 517,161 | ||||||
Global Payments, Inc. |
5,336 | 615,721 | ||||||
WEX, Inc.(1) |
13,199 | 2,482,600 | ||||||
|
|
|||||||
3,615,482 | ||||||||
|
|
|||||||
Ground Transportation 3.6% |
| |||||||
JB Hunt Transport Services, Inc. |
9,351 | 1,762,850 | ||||||
TFI International, Inc. |
7,214 | 926,350 | ||||||
|
|
|||||||
2,689,200 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 8.0% |
| |||||||
Boston Scientific Corp.(1) |
45,948 | 2,426,054 | ||||||
Cooper Cos., Inc. |
2,058 | 654,465 | ||||||
Dentsply Sirona, Inc. |
17,974 | 613,992 | ||||||
ICU Medical, Inc.(1) |
5,429 | 646,105 | ||||||
Teleflex, Inc. |
8,543 | 1,677,931 | ||||||
|
|
|||||||
6,018,547 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 2.1% |
| |||||||
Aramark |
30,503 | 1,058,454 | ||||||
Entain PLC (United Kingdom) |
49,547 | 563,949 | ||||||
|
|
|||||||
1,622,403 | ||||||||
|
|
|||||||
Insurance 5.5% |
| |||||||
Intact Financial Corp. (Canada) |
13,828 | 2,015,992 | ||||||
Ryan Specialty Holdings, Inc.(1) |
9,560 | 462,704 | ||||||
W R Berkley Corp. |
26,698 | 1,695,056 | ||||||
|
|
|||||||
4,173,752 | ||||||||
|
|
|||||||
Interactive Media & Services 0.5% |
| |||||||
Ziff Davis, Inc.(1) |
5,378 | 342,525 | ||||||
|
|
|||||||
342,525 | ||||||||
|
|
|||||||
IT Services 4.7% |
| |||||||
Amdocs Ltd. |
20,288 | 1,714,133 | ||||||
GoDaddy, Inc., Class A(1) |
24,560 | 1,829,229 | ||||||
|
|
|||||||
3,543,362 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 5.1% |
| |||||||
Avantor, Inc.(1) |
44,594 | 940,042 | ||||||
Illumina, Inc.(1) |
3,748 | 514,525 | ||||||
Revvity, Inc. |
15,580 | 1,724,706 | ||||||
Waters Corp.(1) |
2,364 | 648,232 | ||||||
|
|
|||||||
3,827,505 | ||||||||
|
|
|||||||
Machinery 4.3% |
| |||||||
Fortive Corp. |
8,950 | 663,732 | ||||||
Ingersoll Rand, Inc. |
20,452 | 1,303,201 | ||||||
Westinghouse Air Brake Technologies Corp. |
11,817 | 1,255,793 | ||||||
|
|
|||||||
3,222,726 | ||||||||
|
|
|||||||
Multi-Utilities 1.0% |
| |||||||
Ameren Corp. |
10,364 | 775,538 | ||||||
|
|
|||||||
775,538 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MID CAP TRADITIONAL GROWTH VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Passenger Airlines 1.2% |
| |||||||
Ryanair Holdings PLC, ADR(1) |
9,670 | $ | 940,021 | |||||
|
|
|||||||
940,021 | ||||||||
|
|
|||||||
Pharmaceuticals 1.0% |
| |||||||
Catalent, Inc.(1) |
16,069 | 731,622 | ||||||
|
|
|||||||
731,622 | ||||||||
|
|
|||||||
Professional Services 6.6% |
| |||||||
Broadridge Financial Solutions, Inc. |
7,379 | 1,321,210 | ||||||
Ceridian HCM Holding, Inc.(1) |
14,708 | 997,938 | ||||||
SS&C Technologies Holdings, Inc. |
36,636 | 1,924,855 | ||||||
TransUnion |
10,581 | 759,610 | ||||||
|
|
|||||||
5,003,613 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 9.2% |
| |||||||
KLA Corp. |
1,670 | 765,962 | ||||||
Lam Research Corp. |
1,180 | 739,589 | ||||||
Microchip Technology, Inc. |
16,846 | 1,314,830 | ||||||
NXP Semiconductors NV |
7,912 | 1,581,767 | ||||||
ON Semiconductor Corp.(1) |
27,137 | 2,522,384 | ||||||
|
|
|||||||
6,924,532 | ||||||||
|
|
|||||||
Software 6.8% |
| |||||||
Atlassian Corp., Class A(1) |
1,751 | 352,844 | ||||||
Constellation Software, Inc. (Canada) |
1,461 | 3,016,194 | ||||||
Dynatrace, Inc.(1) |
11,568 | 540,573 | ||||||
Nice Ltd., ADR(1) |
5,442 | 925,140 | ||||||
Topicus.com, Inc. (Canada)(1) |
3,989 | 263,496 | ||||||
|
|
|||||||
5,098,247 | ||||||||
|
|
|||||||
Specialized REITs 1.4% |
| |||||||
Lamar Advertising Co., Class A |
12,593 | 1,051,138 | ||||||
|
|
|||||||
1,051,138 | ||||||||
|
|
|||||||
Specialty Retail 2.1% |
| |||||||
Burlington Stores, Inc.(1) |
3,065 | 414,694 | ||||||
CarMax, Inc.(1) |
15,135 | 1,070,499 | ||||||
Wayfair, Inc., Class A(1) |
1,111 | 67,293 | ||||||
|
|
|||||||
1,552,486 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods 1.3% |
| |||||||
Gildan Activewear, Inc. |
34,382 | 963,040 | ||||||
|
|
|||||||
963,040 | ||||||||
|
|
|||||||
Trading Companies & Distributors 2.0% |
| |||||||
Ferguson PLC |
9,017 | 1,483,026 | ||||||
|
|
|||||||
1,483,026 | ||||||||
|
|
|||||||
Total Common Stocks |
|
74,249,486 | ||||||
|
|
|||||||
Warrants 0.0% |
| |||||||
Constellation Software, Inc. (Canada)(1)(2) |
1,544 | 0 | ||||||
|
|
|||||||
Total Warrants |
|
0 | ||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MID CAP TRADITIONAL GROWTH VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Repurchase Agreements 1.8% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $1,332,108, due 10/2/2023(3) |
$ | 1,331,931 | $ | 1,331,931 | ||||
|
|
|||||||
Total Repurchase Agreements |
|
1,331,931 | ||||||
|
|
|||||||
Total Investments 100.3% |
|
75,581,417 | ||||||
|
|
|||||||
Liabilities in excess of other assets (0.3)% |
|
(243,314 | ) | |||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 75,338,103 | |||||
|
|
(1) | Nonincomeproducing security. |
(2) | The table below presents the security deemed illiquid by the investment adviser. |
Security |
Shares | Cost | Value | Acquisition Date |
% of Funds Net Assets |
|||||||||||||||
Constellation Software, Inc. |
1,544 | $ | 0 | $ | 0 | 8/29/2023 | 0.00 | % |
(3) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 1,504,100 | $ | 1,358,584 |
Legend:
ADR American Depositary Receipt
REITs Real Estate Investment Trusts
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 September 30, 2023 in valuing the Funds 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 |
$ | 73,538,822 | $ | 710,664 | * | $ | | $ | 74,249,486 | |||||||
Warrants |
| 0 | | 0 | ||||||||||||
Repurchase Agreements |
| 1,331,931 | | 1,331,931 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 73,538,822 | $ | 2,042,595 | $ | | $ | 75,581,417 | ||||||||
|
|
|
|
|
|
|
|
* | 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
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 97.7% |
| |||||||
Aerospace & Defense 2.2% |
| |||||||
L3Harris Technologies, Inc. |
18,476 | $ | 3,217,041 | |||||
|
|
|||||||
3,217,041 | ||||||||
|
|
|||||||
Automobile Components 0.9% |
| |||||||
Aptiv PLC(1) |
13,811 | 1,361,626 | ||||||
|
|
|||||||
1,361,626 | ||||||||
|
|
|||||||
Banks 2.5% |
| |||||||
Fifth Third Bancorp |
95,124 | 2,409,491 | ||||||
Regions Financial Corp. |
80,635 | 1,386,922 | ||||||
|
|
|||||||
3,796,413 | ||||||||
|
|
|||||||
Beverages 2.7% |
| |||||||
Keurig Dr Pepper, Inc. |
128,509 | 4,057,029 | ||||||
|
|
|||||||
4,057,029 | ||||||||
|
|
|||||||
Building Products 3.3% |
| |||||||
Carlisle Cos., Inc. |
18,781 | 4,869,162 | ||||||
|
|
|||||||
4,869,162 | ||||||||
|
|
|||||||
Capital Markets 0.5% |
| |||||||
Jefferies Financial Group, Inc. |
19,098 | 699,560 | ||||||
|
|
|||||||
699,560 | ||||||||
|
|
|||||||
Chemicals 1.6% |
| |||||||
Ashland, Inc. |
7,654 | 625,179 | ||||||
Huntsman Corp. |
74,113 | 1,808,357 | ||||||
|
|
|||||||
2,433,536 | ||||||||
|
|
|||||||
Commercial Services & Supplies 3.5% |
| |||||||
Republic Services, Inc. |
36,855 | 5,252,206 | ||||||
|
|
|||||||
5,252,206 | ||||||||
|
|
|||||||
Construction & Engineering 3.0% |
| |||||||
API Group Corp.(1) |
60,248 | 1,562,231 | ||||||
MasTec, Inc.(1) |
41,202 | 2,965,308 | ||||||
|
|
|||||||
4,527,539 | ||||||||
|
|
|||||||
Construction Materials 3.0% |
| |||||||
Vulcan Materials Co. |
21,981 | 4,440,602 | ||||||
|
|
|||||||
4,440,602 | ||||||||
|
|
|||||||
Consumer Finance 0.5% |
| |||||||
Discover Financial Services |
9,351 | 810,077 | ||||||
|
|
|||||||
810,077 | ||||||||
|
|
|||||||
Containers & Packaging 1.3% |
| |||||||
AptarGroup, Inc. |
11,346 | 1,418,704 | ||||||
Graphic Packaging Holding Co. |
23,592 | 525,630 | ||||||
|
|
|||||||
1,944,334 | ||||||||
|
|
|||||||
Distributors 3.1% |
| |||||||
LKQ Corp. |
92,731 | 4,591,112 | ||||||
|
|
|||||||
4,591,112 | ||||||||
|
|
|||||||
Electric Utilities 4.2% |
| |||||||
American Electric Power Co., Inc. |
43,210 | 3,250,256 | ||||||
FirstEnergy Corp. |
89,650 | 3,064,237 | ||||||
|
|
|||||||
6,314,493 | ||||||||
|
|
|||||||
Energy Equipment & Services 1.9% |
| |||||||
Baker Hughes Co. |
53,703 | 1,896,790 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MID CAP RELATIVE VALUE VIP FUND
|
Shares |
Value |
||||||
Common Stocks (continued) |
| |||||||
Energy Equipment & Services (continued) |
| |||||||
NOV, Inc. |
42,444 | $ | 887,080 | |||||
|
|
|||||||
2,783,870 | ||||||||
|
|
|||||||
Financial Services 1.9% |
| |||||||
Euronet Worldwide, Inc.(1) |
35,939 | 2,852,838 | ||||||
Pershing Square Tontine Holdings Ltd.(1)(2)(3) |
125,172 | 0 | ||||||
|
|
|||||||
2,852,838 | ||||||||
|
|
|||||||
Ground Transportation 1.0% |
| |||||||
Knight-Swift Transportation Holdings, Inc. |
31,075 | 1,558,411 | ||||||
|
|
|||||||
1,558,411 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 4.0% |
| |||||||
Alcon, Inc. |
42,576 | 3,280,907 | ||||||
Zimmer Biomet Holdings, Inc. |
23,565 | 2,644,464 | ||||||
|
|
|||||||
5,925,371 | ||||||||
|
|
|||||||
Health Care Providers & Services 1.0% |
| |||||||
Laboratory Corp. of America Holdings |
7,708 | 1,549,693 | ||||||
|
|
|||||||
1,549,693 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 2.1% |
| |||||||
Wendys Co. |
49,854 | 1,017,520 | ||||||
Yum China Holdings, Inc. |
36,951 | 2,058,910 | ||||||
|
|
|||||||
3,076,430 | ||||||||
|
|
|||||||
Household Products 4.5% |
| |||||||
Church & Dwight Co., Inc. |
34,610 | 3,171,314 | ||||||
Reynolds Consumer Products, Inc. |
139,257 | 3,569,157 | ||||||
|
|
|||||||
6,740,471 | ||||||||
|
|
|||||||
Insurance 10.3% |
| |||||||
Allstate Corp. |
35,496 | 3,954,610 | ||||||
Arch Capital Group Ltd.(1) |
59,151 | 4,714,926 | ||||||
Axis Capital Holdings Ltd. |
11,163 | 629,258 | ||||||
Brown & Brown, Inc. |
55,881 | 3,902,729 | ||||||
Loews Corp. |
34,861 | 2,207,050 | ||||||
|
|
|||||||
15,408,573 | ||||||||
|
|
|||||||
Interactive Media & Services 0.7% |
| |||||||
Match Group, Inc.(1) |
25,165 | 985,839 | ||||||
|
|
|||||||
985,839 | ||||||||
|
|
|||||||
IT Services 2.9% |
| |||||||
Amdocs Ltd. |
51,203 | 4,326,141 | ||||||
|
|
|||||||
4,326,141 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 1.7% |
| |||||||
Charles River Laboratories International, Inc.(1) |
12,569 | 2,463,273 | ||||||
|
|
|||||||
2,463,273 | ||||||||
|
|
|||||||
Machinery 1.9% |
| |||||||
Donaldson Co., Inc. |
27,667 | 1,650,060 | ||||||
Gates Industrial Corp. PLC(1) |
103,635 | 1,203,202 | ||||||
|
|
|||||||
2,853,262 | ||||||||
|
|
|||||||
Metals & Mining 1.6% |
| |||||||
Freeport-McMoRan, Inc. |
65,719 | 2,450,662 | ||||||
|
|
|||||||
2,450,662 | ||||||||
|
|
|||||||
Mortgage REITs 2.2% |
| |||||||
Annaly Capital Management, Inc. |
177,252 | 3,334,110 | ||||||
|
|
|||||||
3,334,110 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MID CAP RELATIVE VALUE VIP FUND
|
Shares |
Value |
||||||
Common Stocks (continued) |
| |||||||
Office REITs 1.8% |
| |||||||
Boston Properties, Inc. |
44,853 | $ | 2,667,856 | |||||
|
|
|||||||
2,667,856 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 4.7% |
| |||||||
Devon Energy Corp. |
32,203 | 1,536,083 | ||||||
EOG Resources, Inc. |
21,563 | 2,733,326 | ||||||
Targa Resources Corp. |
6,307 | 540,636 | ||||||
Valero Energy Corp. |
15,670 | 2,220,596 | ||||||
|
|
|||||||
7,030,641 | ||||||||
|
|
|||||||
Professional Services 4.2% |
| |||||||
Dun & Bradstreet Holdings, Inc. |
116,212 | 1,160,958 | ||||||
Jacobs Solutions, Inc. |
37,983 | 5,184,679 | ||||||
|
|
|||||||
6,345,637 | ||||||||
|
|
|||||||
Real Estate Management & Development 2.9% |
| |||||||
CBRE Group, Inc., Class A(1) |
58,248 | 4,302,197 | ||||||
|
|
|||||||
4,302,197 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 2.2% |
| |||||||
ON Semiconductor Corp.(1) |
11,633 | 1,081,287 | ||||||
Teradyne, Inc. |
22,388 | 2,249,099 | ||||||
|
|
|||||||
3,330,386 | ||||||||
|
|
|||||||
Software 1.1% |
| |||||||
Synopsys, Inc.(1) |
3,720 | 1,707,368 | ||||||
|
|
|||||||
1,707,368 | ||||||||
|
|
|||||||
Specialized REITs 3.9% |
| |||||||
CubeSmart |
41,715 | 1,590,593 | ||||||
Gaming & Leisure Properties, Inc. |
54,332 | 2,474,822 | ||||||
Weyerhaeuser Co. |
57,957 | 1,776,962 | ||||||
|
|
|||||||
5,842,377 | ||||||||
|
|
|||||||
Specialty Retail 0.9% |
| |||||||
Foot Locker, Inc. |
28,789 | 499,489 | ||||||
RH(1) |
3,193 | 844,102 | ||||||
|
|
|||||||
1,343,591 | ||||||||
|
|
|||||||
Trading Companies & Distributors 4.3% |
| |||||||
AerCap Holdings NV(1) |
84,299 | 5,283,018 | ||||||
Ferguson PLC |
7,303 | 1,201,125 | ||||||
|
|
|||||||
6,484,143 | ||||||||
|
|
|||||||
Water Utilities 1.7% |
| |||||||
American Water Works Co., Inc. |
20,412 | 2,527,618 | ||||||
|
|
|||||||
2,527,618 | ||||||||
|
|
|||||||
Total Common Stocks |
|
146,205,488 | ||||||
|
|
|||||||
Warrants 0.0% |
| |||||||
Pershing Square Tontine Holdings Ltd.(1)(2) |
14,344 | 0 | ||||||
|
|
|||||||
Total Warrants |
|
0 | ||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MID CAP RELATIVE VALUE VIP FUND
|
Principal Amount |
Value |
||||||
Repurchase Agreements 2.4% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $3,564,285, due 10/2/2023(4) |
$ | 3,563,809 | $ | 3,563,809 | ||||
|
|
|||||||
Total Repurchase Agreements |
|
3,563,809 | ||||||
|
|
|||||||
Total Investments 100.1% |
|
149,769,297 | ||||||
|
|
|||||||
Liabilities in excess of other assets (0.1)% |
|
(149,601 | ) | |||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 149,619,696 | |||||
|
|
(1) | Nonincomeproducing security. |
(2) | The table below presents securities deemed illiquid by the investment adviser. |
|
Shares | Cost |
Value |
Acquisition Date |
% of Funds Net Assets |
|||||||||||||||
Pershing Square Tontine Holdings Ltd. |
125,172 | $ | 0 | $ | 0 | 7/26/2022 | 0.00 | % | ||||||||||||
Pershing Square Tontine Holdings Ltd. |
14,344 | 0 | 0 | 7/26/2022 | 0.00 |
(3) | Escrow interests represent beneficial interests in bankruptcy reorganizations or liquidation proceedings and may be subject to resale, redemption or transferability restrictions. The amount and timing of future payments, if any, cannot be predicted with certainty. |
(4) | The table below presents collateral for repurchase agreements. |
|
Coupon |
Maturity Date |
Principal Amount |
Value |
||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 4,024,500 | $ | 3,635,146 |
Legend:
REITs Real Estate Investment Trusts
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 September 30, 2023 in valuing the Funds 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 |
$ | 146,205,488 | $ | | $ | | $ | 146,205,488 | ||||||||
Warrants |
| 0 | | 0 | ||||||||||||
Repurchase Agreements |
| 3,563,809 | | 3,563,809 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 146,205,488 | $ | 3,563,809 | $ | | $ | 149,769,297 | ||||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Agency MortgageBacked Securities 28.4% |
| |||||||
Federal Home Loan Mortgage Corp. |
||||||||
2.50% due 11/1/2050 |
$ | 679,804 | $ | 546,934 | ||||
2.50% due 7/1/2051 |
852,135 | 684,185 | ||||||
3.50% due 2/1/2046 |
484,172 | 426,775 | ||||||
4.50% due 8/1/2052 |
1,231,279 | 1,137,539 | ||||||
5.00% due 7/1/2052 |
544,536 | 518,075 | ||||||
5.00% due 8/1/2052 |
2,076,965 | 1,972,371 | ||||||
Federal National Mortgage Association |
||||||||
2.00% due 6/1/2051 |
512,929 | 391,324 | ||||||
2.00% due 11/1/2051 |
622,980 | 476,893 | ||||||
2.50% due 8/1/2050 |
5,199,631 | 4,203,902 | ||||||
2.50% due 9/1/2050 |
2,641,849 | 2,134,117 | ||||||
2.50% due 1/1/2051 |
1,167,973 | 942,761 | ||||||
2.50% due 6/1/2051 |
797,754 | 640,707 | ||||||
2.50% due 8/1/2051 |
288,381 | 232,386 | ||||||
2.50% due 9/1/2051 |
411,856 | 331,520 | ||||||
2.50% due 12/1/2051 |
2,499,283 | 2,008,916 | ||||||
2.50% due 5/1/2052 |
536,386 | 428,227 | ||||||
3.00% due 12/1/2048 |
1,927,894 | 1,628,716 | ||||||
3.00% due 1/1/2051 |
535,345 | 449,541 | ||||||
3.50% due 7/1/2045 |
553,981 | 486,915 | ||||||
3.50% due 9/1/2051 |
236,729 | 206,672 | ||||||
3.50% due 4/1/2052 |
994,120 | 865,880 | ||||||
4.00% due 5/1/2052 |
1,020,166 | 920,197 | ||||||
4.00% due 6/1/2052 |
1,068,051 | 955,482 | ||||||
5.00% due 7/1/2052 |
735,728 | 701,219 | ||||||
5.00% due 8/1/2052 |
1,126,283 | 1,067,647 | ||||||
Freddie Mac Multifamily Structured Pass-Through Certificates |
| |||||||
Series K145, Class A2 |
| |||||||
2.58% due 5/25/2032 |
641,000 | 522,912 | ||||||
Series KG07, Class A2 |
||||||||
3.123% due 8/25/2032(1)(2) |
1,146,000 | 973,072 | ||||||
Government National Mortgage Association |
||||||||
3.00% due 11/20/2053(3) |
3,001,000 | 2,543,612 | ||||||
3.50% due 11/20/2053(3) |
775,000 | 678,755 | ||||||
4.00% due 11/20/2053(3) |
2,594,000 | 2,337,235 | ||||||
4.50% due 10/20/2053(3) |
942,000 | 869,849 | ||||||
4.50% due 11/20/2053(3) |
2,364,000 | 2,184,197 | ||||||
5.00% due 10/20/2053(3) |
1,729,000 | 1,637,977 | ||||||
5.00% due 11/20/2053(3) |
2,796,000 | 2,649,775 | ||||||
5.50% due 11/20/2053(3) |
7,100,000 | 6,887,703 | ||||||
6.00% due 10/20/2053(3) |
468,000 | 463,654 | ||||||
6.00% due 11/20/2053(3) |
5,794,000 | 5,734,299 | ||||||
6.50% due 11/20/2053(3) |
3,608,000 | 3,623,442 | ||||||
Uniform Mortgage-Backed Security |
||||||||
5.00% due 11/1/2038(3) |
815,000 | 793,709 | ||||||
5.50% due 11/1/2038(3) |
1,837,000 | 1,816,416 | ||||||
5.50% due 11/1/2053(3) |
1,417,000 | 1,368,899 | ||||||
6.00% due 11/1/2038(3) |
1,857,000 | 1,860,621 | ||||||
6.00% due 12/1/2038(3) |
673,000 | 674,057 | ||||||
6.00% due 10/1/2053(3) |
815,000 | 804,242 | ||||||
6.00% due 11/1/2053(3) |
1,233,000 | 1,216,451 | ||||||
6.50% due 10/1/2053(3) |
1,038,000 | 1,042,702 | ||||||
6.50% due 11/1/2053(3) |
688,000 | 690,738 | ||||||
|
|
|||||||
Total Agency MortgageBacked Securities |
|
65,733,218 | ||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
AssetBacked Securities 18.7% |
||||||||
Affirm Asset Securitization Trust |
||||||||
Series 2023-A, Class 1A |
||||||||
6.61% due 1/18/2028(4) |
$ | 725,000 | $ | 721,694 | ||||
Series 2023-B, Class A |
||||||||
6.82% due 9/15/2028(4) |
360,000 | 360,338 | ||||||
American Express Credit Account Master Trust |
||||||||
Series 2023-4, Class A |
||||||||
5.15% due 9/16/2030 |
1,845,000 | 1,832,477 | ||||||
Ares XL CLO Ltd. |
||||||||
Series 2016-40A, Class A1RR |
||||||||
6.44% (3 mo. USD Term SOFR + 1.13%) due 1/15/2029(2)(4) |
256,206 | 254,643 | ||||||
Avant Loans Funding Trust |
||||||||
Series 2022-REV1, Class A |
||||||||
6.54% due 9/15/2031(4) |
1,310,000 | 1,304,447 | ||||||
Avid Automobile Receivables Trust |
||||||||
Series 2019-1, Class D |
||||||||
4.03% due 7/15/2026(4) |
2,290,000 | 2,287,134 | ||||||
Series 2021-1, Class E |
||||||||
3.39% due 4/17/2028(4) |
830,000 | 776,261 | ||||||
Avis Budget Rental Car Funding AESOP LLC |
||||||||
Series 2019-3A, Class A |
||||||||
2.36% due 3/20/2026(4) |
1,545,000 | 1,470,517 | ||||||
Series 2020-2A, Class A |
||||||||
2.02% due 2/20/2027(4) |
1,750,000 | 1,597,804 | ||||||
Bain Capital Credit CLO Ltd. |
||||||||
Series 2019-2A, Class AR |
||||||||
6.67% (3 mo. USD Term SOFR + 1.45%) due 10/17/2032(2)(4) |
880,000 | 873,400 | ||||||
Series 2023-4A, Class D |
||||||||
10.423% (3 mo. USD Term SOFR + 5.00%) due 10/21/2036(2)(4) |
540,000 | 540,000 | ||||||
Ballyrock CLO 23 Ltd. |
||||||||
Series 2023-23A, Class A1 |
||||||||
6.971% (3 mo. USD Term SOFR + 1.98%) due 4/25/2036(2)(4) |
250,000 | 251,052 | ||||||
Barings CLO Ltd. |
||||||||
Series 2019-3A, Class A1R |
||||||||
6.658% (3 mo. USD Term SOFR + 1.33%) due 4/20/2031(2)(4) |
500,000 | 498,050 | ||||||
Carlyle Global Market Strategies CLO Ltd. |
||||||||
Series 2012-3A, Class A1A2 |
||||||||
6.753% (3 mo. USD Term SOFR + 1.44%) due 1/14/2032(2)(4) |
308,210 | 307,409 | ||||||
Carlyle U.S. CLO Ltd. |
||||||||
Series 2021-1A, Class A1 |
||||||||
6.71% (3 mo. USD Term SOFR + 1.40%) due 4/15/2034(2)(4) |
1,400,000 | 1,391,460 | ||||||
CarMax Auto Owner Trust |
||||||||
Series 2023-1, Class B |
||||||||
4.98% due 1/16/2029 |
850,000 | 821,573 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
AssetBacked Securities (continued) |
||||||||
CIFC Funding Ltd. |
||||||||
Series 2021-4A, Class A |
||||||||
6.62% (3 mo. USD Term SOFR + 1.31%) due 7/15/2033(2)(4) |
$ | 1,000,000 | $ | 996,000 | ||||
Citizens Auto Receivables Trust |
||||||||
Series 2023-2, Class A3 |
||||||||
5.83% due 2/15/2028(4) |
1,275,000 | 1,274,143 | ||||||
Exeter Automobile Receivables Trust |
||||||||
Series 2020-2A, Class E |
||||||||
7.19% due 9/15/2027(4) |
1,100,000 | 1,105,718 | ||||||
Series 2022-2A, Class B |
||||||||
3.65% due 10/15/2026 |
1,020,000 | 1,010,773 | ||||||
First Investors Auto Owner Trust |
||||||||
Series 2021-1A, Class E |
||||||||
3.35% due 4/15/2027(4) |
600,000 | 568,415 | ||||||
Flagship Credit Auto Trust |
||||||||
Series 2018-3, Class E |
||||||||
5.28% due 12/15/2025(4) |
725,000 | 715,624 | ||||||
Series 2022-3, Class A3 |
||||||||
4.55% due 4/15/2027(4) |
950,000 | 935,449 | ||||||
Lending Funding Trust |
||||||||
Series 2020-2A, Class A |
||||||||
2.32% due 4/21/2031(4) |
936,000 | 835,193 | ||||||
Lendmark Funding Trust |
||||||||
Series 2021-1A, Class A |
||||||||
1.90% due 11/20/2031(4) |
750,000 | 648,068 | ||||||
LoanCore Issuer Ltd. |
||||||||
Series 2022-CRE7, Class A |
||||||||
6.863% (30 day SOFR + 1.55%) due 1/17/2037(2)(4) |
680,000 | 671,881 | ||||||
Logan CLO I Ltd. |
||||||||
Series 2021-1A, Class A |
||||||||
6.748% (3 mo. USD Term SOFR + 1.42%) due 7/20/2034(2)(4) |
530,000 | 526,449 | ||||||
Marble Point CLO XVII Ltd. |
||||||||
Series 2020-1A, Class A |
||||||||
6.888% (3 mo. USD Term SOFR + 1.56%) due 4/20/2033(2)(4) |
613,030 | 608,003 | ||||||
Marlette Funding Trust |
||||||||
Series 2020-2A, Class D |
||||||||
4.65% due 9/16/2030(4) |
507,945 | 502,846 | ||||||
ME Funding LLC |
||||||||
Series 2019-1, Class A2 |
||||||||
6.448% due 7/30/2049(4) |
627,550 | 612,841 | ||||||
MF1 Ltd. |
||||||||
Series 2022-FL8, Class A |
||||||||
6.677% (1 mo. USD Term SOFR + 1.35%) due 2/19/2037(2)(4) |
1,315,000 | 1,296,695 | ||||||
Mountain View CLO LLC |
||||||||
Series 2017-1A, Class AR |
||||||||
6.66% (3 mo. USD Term SOFR + 1.35%) due 10/16/2029(2)(4) |
353,314 | 352,890 | ||||||
Neuberger Berman Loan Advisers CLO 35 Ltd. |
||||||||
Series 2019-35A, Class A1 |
||||||||
6.922% (3 mo. USD Term SOFR + 1.60%) due 1/19/2033(2)(4) |
270,000 | 269,460 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Asset-Backed Securities (continued) |
||||||||
OCP CLO Ltd. |
||||||||
Series 2014-5A, Class A1R |
||||||||
6.692% (3 mo. USD Term SOFR + 1.34%) due 4/26/2031(2)(4) |
$ | 626,026 | $ | 622,896 | ||||
Series 2014-7A, Class A1RR |
||||||||
6.708% (3 mo. USD Term SOFR + 1.38%) due 7/20/2029(2)(4) |
435,472 | 434,602 | ||||||
Series 2019-17A, Class A1R |
||||||||
6.628% (3 mo. USD Term SOFR + 1.30%) due 7/20/2032(2)(4) |
500,000 | 496,050 | ||||||
Santander Consumer Auto Receivables Trust |
||||||||
Series 2020-BA, Class D |
||||||||
2.14% due 12/15/2026(4) |
1,475,000 | 1,421,527 | ||||||
Santander Drive Auto Receivables Trust |
||||||||
Series 2022-5, Class C |
||||||||
4.74% due 10/16/2028 |
498,000 | 483,694 | ||||||
Series 2022-6, Class C |
||||||||
4.96% due 11/15/2028 |
1,080,000 | 1,052,030 | ||||||
Series 2022-7, Class C |
||||||||
6.69% due 3/17/2031 |
1,060,000 | 1,067,877 | ||||||
SCF Equipment Leasing LLC |
||||||||
Series 2019-2A, Class B |
||||||||
2.76% due 8/20/2026(4) |
797,000 | 781,692 | ||||||
Series 2021-1A, Class C |
||||||||
1.54% due 10/21/2030(4) |
1,000,000 | 915,031 | ||||||
Series 2021-1A, Class D |
||||||||
1.93% due 9/20/2030(4) |
750,000 | 663,453 | ||||||
SEB Funding LLC |
||||||||
Series 2021-1A, Class A2 |
||||||||
4.969% due 1/30/2052(4) |
812,963 | 722,331 | ||||||
Signal Peak CLO 8 Ltd. |
||||||||
Series 2020-8A, Class A |
||||||||
6.858% (3 mo. USD Term SOFR + 1.53%) due 4/20/2033(2)(4) |
1,003,948 | 997,723 | ||||||
Sunrun Demeter Issuer LLC |
||||||||
Series 2021-2A, Class A |
||||||||
2.27% due 1/30/2057(4) |
455,039 | 357,925 | ||||||
TCW CLO Ltd. |
||||||||
Series 2022-1A, Class A1 |
||||||||
6.686% (3 mo. USD Term SOFR + 1.34%) due 4/22/2033(2)(4) |
750,000 | 742,050 | ||||||
THL Credit Wind River CLO Ltd. |
||||||||
Series 2013-2A, Class AR2 |
||||||||
6.572% (3 mo. USD Term SOFR + 1.26%) due 10/18/2030(2)(4) |
451,031 | 448,776 | ||||||
Towd Point Asset Trust |
||||||||
Series 2018-SL1, Class A |
||||||||
6.034% (1 mo. USD Term SOFR + 0.71%) due 1/25/2046(2)(4) |
49,059 | 48,974 | ||||||
Valley Stream Park CLO Ltd. |
||||||||
Series 2022-1A, Class BR |
||||||||
7.56% (3 mo. USD Term SOFR + 2.25%) due 10/20/2034(2)(4) |
470,000 | 470,000 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Asset-Backed Securities (continued) |
||||||||
Voya CLO Ltd. |
||||||||
Series 2018-2A, Class A1 |
||||||||
6.57% (3 mo. USD Term SOFR + 1.26%) due 7/15/2031(2)(4) |
$ | 490,000 | $ | 488,530 | ||||
Westlake Automobile Receivables Trust |
||||||||
Series 2020-3A, Class E |
||||||||
3.34% due 6/15/2026(4) |
750,000 | 728,192 | ||||||
Series 2023-1A, Class C |
||||||||
5.74% due 8/15/2028(4) |
1,015,000 | 998,756 | ||||||
World Omni Select Auto Trust |
||||||||
Series 2023-A, Class C |
||||||||
6.00% due 1/16/2029 |
985,000 | 978,807 | ||||||
|
|
|||||||
Total Asset-Backed Securities |
43,139,623 | |||||||
|
|
|||||||
Corporate Bonds & Notes 52.3% |
||||||||
Aerospace & Defense 0.6% |
||||||||
Bombardier, Inc. |
||||||||
6.00% due 2/15/2028(4) |
381,000 | 345,220 | ||||||
L3Harris Technologies, Inc. |
||||||||
5.40% due 7/31/2033 |
770,000 | 740,101 | ||||||
TransDigm, Inc. |
||||||||
4.625% due 1/15/2029 |
288,000 | 251,182 | ||||||
|
|
|||||||
1,336,503 | ||||||||
|
|
|||||||
Agriculture 1.2% |
||||||||
BAT Capital Corp. |
||||||||
3.222% due 8/15/2024 |
833,000 | 813,141 | ||||||
6.343% due 8/2/2030 |
411,000 | 404,786 | ||||||
Cargill, Inc. |
||||||||
4.00% due 6/22/2032(4) |
650,000 | 579,832 | ||||||
Philip Morris International, Inc. |
||||||||
5.625% due 11/17/2029 |
592,000 | 584,837 | ||||||
Viterra Finance BV |
||||||||
4.90% due 4/21/2027(4) |
398,000 | 381,284 | ||||||
|
|
|||||||
2,763,880 | ||||||||
|
|
|||||||
Airlines 0.5% |
||||||||
American Airlines, Inc. |
||||||||
7.25% due 2/15/2028(4) |
263,000 | 251,462 | ||||||
Azul Secured Finance LLP |
||||||||
11.93% due 8/28/2028(4) |
200,000 | 198,062 | ||||||
British Airways Pass-Through Trust |
||||||||
Series 2020-1, Class A |
||||||||
4.25% due 11/15/2032(4)(5) |
534,935 | 480,179 | ||||||
VistaJet Malta Finance PLC/Vista |
||||||||
Management Holding, Inc. |
||||||||
7.875% due 5/1/2027(4) |
267,000 | 229,935 | ||||||
|
|
|||||||
1,159,638 | ||||||||
|
|
|||||||
Auto Manufacturers 0.6% |
||||||||
Ford Motor Co. |
||||||||
3.25% due 2/12/2032 |
848,000 | 652,180 | ||||||
Hyundai Capital America |
||||||||
1.80% due 10/15/2025(4) |
402,000 | 369,595 | ||||||
5.80% due 6/26/2025(4) |
278,000 | 276,813 | ||||||
|
|
|||||||
1,298,588 | ||||||||
|
|
|||||||
Beverages 0.3% |
||||||||
Bacardi Ltd./Bacardi-Martini BV |
||||||||
5.40% due 6/15/2033(4) |
860,000 | 806,972 | ||||||
|
|
|||||||
806,972 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Biotechnology 0.1% |
||||||||
Baxalta, Inc. |
||||||||
4.00% due 6/23/2025 |
$ | 175,000 | $ | 169,743 | ||||
|
|
|||||||
169,743 | ||||||||
|
|
|||||||
Building Materials 0.4% |
||||||||
Griffon Corp. |
||||||||
5.75% due 3/1/2028 |
264,000 | 239,501 | ||||||
Smyrna Ready Mix Concrete LLC |
||||||||
6.00% due 11/1/2028(4) |
397,000 | 366,427 | ||||||
Standard Industries, Inc. |
||||||||
4.375% due 7/15/2030(4) |
308,000 | 255,104 | ||||||
|
|
|||||||
861,032 | ||||||||
|
|
|||||||
Chemicals 1.0% |
||||||||
Celanese U.S. Holdings LLC |
||||||||
6.05% due 3/15/2025 |
810,000 | 806,881 | ||||||
CVR Partners LP/CVR Nitrogen Finance Corp. |
||||||||
6.125% due 6/15/2028(4) |
265,000 | 238,521 | ||||||
International Flavors & Fragrances, Inc. |
||||||||
1.23% due 10/1/2025(4) |
1,008,000 | 903,400 | ||||||
Rain Carbon, Inc. |
||||||||
12.25% due 9/1/2029(4) |
249,000 | 261,199 | ||||||
Rain CII Carbon LLC/CII Carbon Corp. |
||||||||
7.25% due 4/1/2025(4) |
6,000 | 5,818 | ||||||
|
|
|||||||
2,215,819 | ||||||||
|
|
|||||||
Coal 0.1% |
||||||||
SunCoke Energy, Inc. |
||||||||
4.875% due 6/30/2029(4) |
410,000 | 347,705 | ||||||
|
|
|||||||
347,705 | ||||||||
|
|
|||||||
Commercial Banks 16.3% |
||||||||
ABN AMRO Bank NV |
||||||||
3.324% (3.324% fixed rate until 12/13/2031; 5 yr. CMT + 1.90% thereafter) |
400,000 | 296,548 | ||||||
Bank of America Corp. |
||||||||
2.087% (2.087% fixed rate until 6/14/2028; SOFR + 1.06% thereafter) due 6/14/2029(2) |
1,256,000 | 1,050,644 | ||||||
2.687% (2.687% fixed rate until 4/22/2031; SOFR + 1.32% thereafter) due 4/22/2032(2) |
509,000 | 399,107 | ||||||
3.458% (3.458% fixed rate until 3/15/2024; 3 mo. USD Term SOFR + 1.23% thereafter) |
618,000 | 609,669 | ||||||
3.593% (3.593% fixed rate until 7/21/2027; 3 mo. USD Term SOFR + 1.63% thereafter) |
1,500,000 | 1,369,350 | ||||||
Series N |
||||||||
1.658% (1.658% fixed rate until 3/11/2026; SOFR + 0.91% thereafter) due 3/11/2027(2) |
500,000 | 448,515 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Commercial Banks (continued) |
||||||||
Bank of New York Mellon Corp. |
||||||||
Series J |
||||||||
4.967% (4.967% fixed rate until 4/26/2033; SOFR + 1.61% thereafter) due 4/26/2034(2) |
$ | 443,000 | $ | 408,340 | ||||
BankUnited, Inc. |
||||||||
5.125% due 6/11/2030 |
613,000 | 508,159 | ||||||
Barclays PLC |
||||||||
3.932% (3.932% fixed rate until 5/7/2024; SOFR + 1.96% thereafter) due 5/7/2025(2) |
869,000 | 855,748 | ||||||
BNP Paribas SA |
||||||||
2.219% (2.219% fixed rate until 6/9/2025; SOFR + 2.07% thereafter) due 6/9/2026(2)(4) |
1,019,000 | 950,472 | ||||||
4.375% (4.375% fixed rate until 3/1/2028; 5 yr. USD Swap + 1.48% thereafter) |
599,000 | 533,685 | ||||||
Citigroup, Inc. |
||||||||
3.887% (3.887% fixed rate until 1/10/2027; 3 mo. USD Term SOFR + 1.82% thereafter) |
1,212,000 | 1,129,754 | ||||||
3.98% (3.98% fixed rate until 3/20/2029; 3 mo. USD Term SOFR + 1.60% thereafter) |
2,014,000 | 1,808,834 | ||||||
4.14% (4.14% fixed rate until 5/24/2024; SOFR + 1.37% thereafter) due 5/24/2025(2) |
287,000 | 282,916 | ||||||
Citizens Bank NA |
||||||||
4.119% (4.119% fixed rate until 5/23/2024; SOFR + 1.40% thereafter) due 5/23/2025(2) |
626,000 | 605,354 | ||||||
Danske Bank AS |
||||||||
3.773% (3.773% fixed rate until 3/28/2024; 1 yr. CMT + 1.45% thereafter) |
1,345,000 | 1,324,650 | ||||||
4.375% due 6/12/2028(4) |
200,000 | 184,380 | ||||||
6.466% (6.466% fixed rate until 1/9/2025; 1 yr. CMT + 2.10% thereafter) due 1/9/2026(2)(4) |
634,000 | 632,808 | ||||||
First-Citizens Bank & Trust Co. |
||||||||
2.969% (2.969% fixed rate until 9/27/2024; 3 mo. USD Term SOFR + 1.72% thereafter) |
518,000 | 493,411 | ||||||
HSBC Holdings PLC |
||||||||
3.803% (3.803% fixed rate until 3/11/2024; 3 mo. USD Term SOFR + 1.47% thereafter) |
517,000 | 510,568 | ||||||
Intesa Sanpaolo SpA |
||||||||
6.625% due 6/20/2033(4) |
840,000 | 789,911 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Commercial Banks (continued) |
||||||||
JPMorgan Chase & Co. |
||||||||
2.739% (2.739% fixed rate until 10/15/2029; 3 mo. USD Term SOFR + 1.51% thereafter) |
$ | 880,000 | $ | 735,680 | ||||
3.54% (3.54% fixed rate until 5/1/2027; 3 mo. USD Term SOFR + 1.64% thereafter) |
1,002,000 | 921,149 | ||||||
3.782% (3.782% fixed rate until 2/1/2027; 3 mo. USD Term SOFR + 1.60% thereafter) |
1,065,000 | 991,217 | ||||||
3.845% (3.845% fixed rate until 6/14/2024; SOFR + 0.98% thereafter) due 6/14/2025(2) |
856,000 | 840,857 | ||||||
Lloyds Banking Group PLC |
||||||||
3.90% due 3/12/2024 |
648,000 | 641,533 | ||||||
M&T Bank Corp. |
||||||||
5.053% (5.053% fixed rate until 1/27/2033; SOFR + 1.85% thereafter) due 1/27/2034(2) |
376,000 | 325,778 | ||||||
Macquarie Bank Ltd. |
||||||||
3.624% due 6/3/2030(4) |
203,000 | 165,199 | ||||||
Macquarie Group Ltd. |
||||||||
2.691% (2.691% fixed rate until 6/23/2031; SOFR + 1.44% thereafter) due 6/23/2032(2)(4) |
968,000 | 739,407 | ||||||
4.654% (4.654% fixed rate until 3/27/2028; SOFR + 2.07% thereafter) due 3/27/2029(2)(4) |
963,000 | 901,175 | ||||||
Mitsubishi UFJ Financial Group, Inc. |
||||||||
5.541% (5.541% fixed rate until 4/17/2025; 1 yr. CMT + 1.50% thereafter) due 4/17/2026(2) |
320,000 | 317,110 | ||||||
Morgan Stanley |
||||||||
2.239% (2.239% fixed rate until 7/21/2031; SOFR + 1.18% thereafter) due 7/21/2032(2) |
799,000 | 602,358 | ||||||
2.484% (2.484% fixed rate until 9/16/2031; SOFR + 1.36% thereafter) due 9/16/2036(2) |
542,000 | 396,072 | ||||||
4.21% (4.21% fixed rate until 4/20/2027; SOFR + 1.61% thereafter) due 4/20/2028(2) |
391,000 | 367,427 | ||||||
4.431% (4.431% fixed rate until 1/23/2029; 3 mo. USD Term SOFR + 1.89% thereafter) |
1,900,000 | 1,754,669 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Commercial Banks (continued) |
||||||||
NatWest Group PLC |
||||||||
4.269% (4.269% fixed rate until 5/7/2024; SOFR + 2.11% thereafter) due 3/22/2025(2) |
$ | 1,028,000 | $ | 1,017,041 | ||||
5.808% (5.808% fixed rate until 9/13/2028; 1 yr. CMT + 1.95% thereafter) |
327,000 | 317,174 | ||||||
7.472% (7.472% fixed rate until 11/10/2025; 1 yr. CMT + 2.85% thereafter) |
486,000 | 495,725 | ||||||
Royal Bank of Canada |
||||||||
6.00% due 11/1/2027 |
667,000 | 672,042 | ||||||
State Street Corp. |
||||||||
4.164% (4.164% fixed rate until 8/4/2032; SOFR + 1.73% thereafter) due 8/4/2033(2) |
404,000 | 351,856 | ||||||
Toronto-Dominion Bank |
||||||||
4.456% due 6/8/2032 |
500,000 | 448,830 | ||||||
U.S. Bancorp |
||||||||
4.839% (4.839% fixed rate until 2/1/2033; SOFR + 1.60% thereafter) due 2/1/2034(2) |
387,000 | 341,500 | ||||||
4.967% (4.967% fixed rate until 7/22/2032; SOFR + 2.11% thereafter) due 7/22/2033(2) |
1,057,000 | 921,186 | ||||||
UBS AG |
||||||||
5.125% due 5/15/2024 |
872,000 | 859,818 | ||||||
UBS Group AG |
||||||||
1.364% (1.364% fixed rate until 1/30/2026; 1 yr. CMT + 1.08% thereafter) |
473,000 | 420,417 | ||||||
1.494% (1.494% fixed rate until 8/10/2026; 1 yr. CMT + 0.85% thereafter) |
753,000 | 656,480 | ||||||
4.703% (4.703% fixed rate until 8/5/2026; 1 yr. CMT + 2.05% thereafter) |
365,000 | 349,918 | ||||||
4.988% (4.988% fixed rate until 8/5/2032; 1 yr. CMT + 2.40% thereafter) |
449,000 | 400,872 | ||||||
5.711% (5.711% fixed rate until 1/12/2026; 1 yr. CMT + 1.55% thereafter) |
603,000 | 595,601 | ||||||
6.373% (6.373% fixed rate until 7/15/2025; SOFR + 3.34% thereafter) due 7/15/2026(2)(4) |
940,000 | 936,926 | ||||||
6.442% (6.442% fixed rate until 8/11/2027; SOFR + 3.70% thereafter) due 8/11/2028(2)(4) |
509,000 | 508,028 | ||||||
Wells Fargo & Co. |
||||||||
2.188% (2.188% fixed rate until 4/30/2025; SOFR + 2.00% thereafter) due 4/30/2026(2) |
652,000 | 612,065 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Commercial Banks (continued) |
||||||||
2.393% (2.393% fixed rate until 6/2/2027; SOFR + 2.10% thereafter) due 6/2/2028(2) |
$ | 1,100,000 | $ | 964,942 | ||||
3.35% (3.35% fixed rate until 3/2/2032; SOFR + 1.50% thereafter) due 3/2/2033(2) |
700,000 | 565,173 | ||||||
3.584% (3.584% fixed rate until 5/22/2027; 3 mo. USD Term SOFR + 1.57% thereafter) due 5/22/2028(2) |
976,000 | 892,367 | ||||||
5.389% (5.389% fixed rate until 4/24/2033; SOFR + 2.02% thereafter) due 4/24/2034(2) |
447,000 | 418,629 | ||||||
|
|
|||||||
37,639,044 | ||||||||
|
|
|||||||
Commercial Services 0.6% |
||||||||
Adani Ports & Special Economic Zone Ltd. |
||||||||
4.00% due 7/30/2027 |
300,000 | 252,672 | ||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL |
||||||||
4.625% due 6/1/2028(4) |
500,000 | 414,395 | ||||||
Garda World Security Corp. |
||||||||
7.75% due 2/15/2028(4) |
243,000 | 238,536 | ||||||
Global Payments, Inc. |
||||||||
4.95% due 8/15/2027 |
631,000 | 606,076 | ||||||
|
|
|||||||
1,511,679 | ||||||||
|
|
|||||||
Computers 0.1% |
||||||||
Leidos, Inc. |
||||||||
5.75% due 3/15/2033 |
355,000 | 339,519 | ||||||
|
|
|||||||
339,519 | ||||||||
|
|
|||||||
Construction Materials 0.1% |
||||||||
Eco Material Technologies, Inc. |
||||||||
7.875% due 1/31/2027(4) |
367,000 | 350,525 | ||||||
|
|
|||||||
350,525 | ||||||||
|
|
|||||||
Cosmetics & Personal Care 0.1% |
||||||||
Haleon U.S. Capital LLC |
||||||||
3.625% due 3/24/2032 |
295,000 | 253,148 | ||||||
|
|
|||||||
253,148 | ||||||||
|
|
|||||||
Diversified Financial Services 3.0% |
||||||||
Air Lease Corp. |
||||||||
5.85% due 12/15/2027 |
589,000 | 580,577 | ||||||
Aircastle Ltd. |
||||||||
2.85% due 1/26/2028(4) |
600,000 | 509,160 | ||||||
Aviation Capital Group LLC |
||||||||
1.95% due 1/30/2026(4) |
408,000 | 366,196 | ||||||
5.50% due 12/15/2024(4) |
982,000 | 965,738 | ||||||
6.375% due 7/15/2030(4) |
594,000 | 574,838 | ||||||
Avolon Holdings Funding Ltd. |
||||||||
2.125% due 2/21/2026(4) |
800,000 | 716,048 | ||||||
4.25% due 4/15/2026(4) |
800,000 | 752,600 | ||||||
5.25% due 5/15/2024(4) |
621,000 | 615,274 | ||||||
LPL Holdings, Inc. |
||||||||
4.00% due 3/15/2029(4) |
672,000 | 585,090 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Diversified Financial Services (continued) |
||||||||
Navient Corp. |
||||||||
4.875% due 3/15/2028 |
$ | 401,000 | $ | 340,850 | ||||
Neuberger Berman Group LLC/Neuberger Berman Finance Corp. |
||||||||
4.50% due 3/15/2027(4) |
365,000 | 340,724 | ||||||
4.875% due 4/15/2045(4) |
198,000 | 146,548 | ||||||
OneMain Finance Corp. |
||||||||
5.375% due 11/15/2029 |
537,000 | 449,593 | ||||||
|
|
|||||||
6,943,236 | ||||||||
|
|
|||||||
Electric 4.5% |
||||||||
AEP Texas, Inc. |
||||||||
5.40% due 6/1/2033 |
298,000 | 283,902 | ||||||
AES Corp. |
||||||||
3.95% due 7/15/2030(4) |
525,000 | 452,792 | ||||||
Alfa Desarrollo SpA |
||||||||
4.55% due 9/27/2051(4) |
293,160 | 200,547 | ||||||
American Transmission Systems, Inc. |
||||||||
2.65% due 1/15/2032(4) |
238,000 | 188,084 | ||||||
Ausgrid Finance Pty. Ltd. |
||||||||
4.35% due 8/1/2028(4) |
580,000 | 539,870 | ||||||
Calpine Corp. |
||||||||
5.00% due 2/1/2031(4) |
274,000 | 221,877 | ||||||
5.125% due 3/15/2028(4) |
262,000 | 233,319 | ||||||
Constellation Energy Generation LLC |
||||||||
6.25% due 10/1/2039 |
600,000 | 581,334 | ||||||
Duke Energy Corp. |
||||||||
4.50% due 8/15/2032 |
1,000,000 | 899,210 | ||||||
Duke Energy Indiana LLC |
||||||||
5.40% due 4/1/2053 |
304,000 | 277,920 | ||||||
Electricite de France SA |
||||||||
6.25% due 5/23/2033(4) |
762,000 | 763,562 | ||||||
Eskom Holdings SOC Ltd. |
||||||||
6.35% due 8/10/2028 |
268,000 | 244,129 | ||||||
Indiana Michigan Power Co. |
||||||||
5.625% due 4/1/2053 |
306,000 | 287,689 | ||||||
Indianapolis Power & Light Co. |
||||||||
5.65% due 12/1/2032(4) |
1,000,000 | 977,750 | ||||||
Minejesa Capital BV |
||||||||
4.625% due 8/10/2030(4) |
730,000 | 653,131 | ||||||
National Grid PLC |
||||||||
5.809% due 6/12/2033 |
752,000 | 730,560 | ||||||
NRG Energy, Inc. |
||||||||
4.45% due 6/15/2029(4) |
280,000 | 243,558 | ||||||
Oklahoma Gas & Electric Co. |
||||||||
5.40% due 1/15/2033 |
340,000 | 328,236 | ||||||
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara |
||||||||
3.00% due 6/30/2030(4) |
504,000 | 414,606 | ||||||
Southern Co. |
||||||||
4.475% due 8/1/2024(2) |
1,156,000 | 1,140,498 | ||||||
Vistra Operations Co. LLC |
||||||||
3.55% due 7/15/2024(4) |
841,000 | 820,673 | ||||||
|
|
|||||||
10,483,247 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Engineering & Construction 0.4% |
||||||||
Cellnex Finance Co. SA |
||||||||
3.875% due 7/7/2041(4) |
$ | 667,000 | $ | 462,244 | ||||
Weekley Homes LLC/Weekley Finance Corp. |
||||||||
4.875% due 9/15/2028(4) |
421,000 | 365,045 | ||||||
|
|
|||||||
827,289 | ||||||||
|
|
|||||||
Entertainment 0.4% |
||||||||
Cinemark USA, Inc. |
||||||||
5.875% due 3/15/2026(4) |
256,000 | 246,876 | ||||||
Jacobs Entertainment, Inc. |
||||||||
6.75% due 2/15/2029(4) |
255,000 | 226,009 | ||||||
Warnermedia Holdings, Inc. |
||||||||
3.788% due 3/15/2025 |
442,000 | 426,840 | ||||||
|
|
|||||||
899,725 | ||||||||
|
|
|||||||
Environmental Control 0.2% |
||||||||
Veralto Corp. |
||||||||
5.45% due 9/18/2033(4) |
382,000 | 370,299 | ||||||
|
|
|||||||
370,299 | ||||||||
|
|
|||||||
Food 0.1% |
||||||||
NBM U.S. Holdings, Inc. |
||||||||
7.00% due 5/14/2026 |
236,000 | 233,992 | ||||||
|
|
|||||||
233,992 | ||||||||
|
|
|||||||
Gas 0.7% |
||||||||
CenterPoint Energy Resources Corp. |
||||||||
1.75% due 10/1/2030 |
301,000 | 232,634 | ||||||
4.40% due 7/1/2032 |
500,000 | 451,345 | ||||||
National Fuel Gas Co. |
||||||||
5.50% due 1/15/2026 |
554,000 | 544,693 | ||||||
Southwest Gas Corp. |
||||||||
4.05% due 3/15/2032 |
413,000 | 357,067 | ||||||
|
|
|||||||
1,585,739 | ||||||||
|
|
|||||||
Hand & Machine Tools 0.2% |
||||||||
Regal Rexnord Corp. |
||||||||
6.05% due 2/15/2026(4) |
541,000 | 534,064 | ||||||
|
|
|||||||
534,064 | ||||||||
|
|
|||||||
Healthcare-Products 0.9% |
||||||||
GE HealthCare Technologies, Inc. |
||||||||
5.65% due 11/15/2027 |
985,000 | 983,158 | ||||||
Medline Borrower LP |
||||||||
3.875% due 4/1/2029(4) |
330,000 | 278,830 | ||||||
Revvity, Inc. |
||||||||
0.85% due 9/15/2024 |
750,000 | 713,040 | ||||||
|
|
|||||||
1,975,028 | ||||||||
|
|
|||||||
Healthcare-Services 2.3% |
||||||||
Centene Corp. |
||||||||
2.45% due 7/15/2028 |
1,000,000 | 844,790 | ||||||
3.375% due 2/15/2030 |
1,116,000 | 931,213 | ||||||
4.25% due 12/15/2027 |
419,000 | 385,991 | ||||||
CHS/Community Health Systems, Inc. |
||||||||
5.25% due 5/15/2030(4) |
597,000 | 454,860 | ||||||
Elevance Health, Inc. |
||||||||
2.25% due 5/15/2030 |
500,000 | 405,955 | ||||||
5.50% due 10/15/2032 |
606,000 | 596,310 | ||||||
Humana, Inc. |
||||||||
1.35% due 2/3/2027 |
737,000 | 642,030 | ||||||
5.875% due 3/1/2033 |
770,000 | 765,457 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Healthcare-Services (continued) |
||||||||
Tenet Healthcare Corp. |
||||||||
6.125% due 10/1/2028 |
$ | 400,000 | $ | 375,392 | ||||
|
|
|||||||
5,401,998 | ||||||||
|
|
|||||||
Insurance 1.0% |
||||||||
Assurant, Inc. |
||||||||
2.65% due 1/15/2032 |
313,000 | 228,938 | ||||||
GA Global Funding Trust |
||||||||
3.85% due 4/11/2025(4) |
898,000 | 862,906 | ||||||
Metropolitan Life Global Funding I |
||||||||
4.05% due 8/25/2025(4) |
452,000 | 436,930 | ||||||
5.15% due 3/28/2033(4) |
389,000 | 367,551 | ||||||
New York Life Global Funding |
||||||||
4.55% due 1/28/2033(4) |
518,000 | 473,602 | ||||||
|
|
|||||||
2,369,927 | ||||||||
|
|
|||||||
Internet 0.7% |
||||||||
Netflix, Inc. |
||||||||
6.375% due 5/15/2029 |
1,002,000 | 1,034,826 | ||||||
Prosus NV |
||||||||
3.257% due 1/19/2027(4) |
700,000 | 620,347 | ||||||
|
|
|||||||
1,655,173 | ||||||||
|
|
|||||||
Iron & Steel 0.1% |
||||||||
United States Steel Corp. |
||||||||
6.875% due 3/1/2029 |
240,000 | 236,376 | ||||||
|
|
|||||||
236,376 | ||||||||
|
|
|||||||
Leisure Time 0.2% |
||||||||
Carnival Corp. |
||||||||
6.00% due 5/1/2029(4) |
264,000 | 225,443 | ||||||
Royal Caribbean Cruises Ltd. |
||||||||
5.375% due 7/15/2027(4) |
297,000 | 274,440 | ||||||
|
|
|||||||
499,883 | ||||||||
|
|
|||||||
Lodging 0.1% |
||||||||
Genting New York LLC/GENNY Capital, Inc. |
||||||||
3.30% due 2/15/2026(4) |
273,000 | 243,341 | ||||||
|
|
|||||||
243,341 | ||||||||
|
|
|||||||
Machinery-Diversified 0.4% |
||||||||
nVent Finance SARL |
||||||||
4.55% due 4/15/2028 |
1,112,000 | 1,041,143 | ||||||
|
|
|||||||
1,041,143 | ||||||||
|
|
|||||||
Media 0.7% |
||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. |
||||||||
4.50% due 5/1/2032 |
627,000 | 492,076 | ||||||
DISH Network Corp. |
||||||||
11.75% due 11/15/2027(4) |
267,000 | 267,919 | ||||||
FactSet Research Systems, Inc. |
||||||||
3.45% due 3/1/2032 |
600,000 | 495,852 | ||||||
Nexstar Media, Inc. |
||||||||
4.75% due 11/1/2028(4) |
403,000 | 333,696 | ||||||
|
|
|||||||
1,589,543 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Mining 0.7% |
||||||||
Corp. Nacional del Cobre de Chile |
||||||||
5.125% due 2/2/2033(4) |
$ | 315,000 | $ | 290,263 | ||||
FMG Resources August 2006 Pty. Ltd. |
||||||||
4.375% due 4/1/2031(4) |
437,000 | 357,737 | ||||||
Freeport Indonesia PT |
||||||||
6.20% due 4/14/2052 |
270,000 | 226,233 | ||||||
Glencore Funding LLC |
||||||||
4.875% due 3/12/2029(4) |
511,000 | 483,978 | ||||||
Hecla Mining Co. |
||||||||
7.25% due 2/15/2028 |
246,000 | 238,037 | ||||||
|
|
|||||||
1,596,248 | ||||||||
|
|
|||||||
Miscellaneous Manufacturing 0.1% |
||||||||
LSB Industries, Inc. |
||||||||
6.25% due 10/15/2028(4) |
257,000 | 233,058 | ||||||
|
|
|||||||
233,058 | ||||||||
|
|
|||||||
Oil & Gas 4.2% |
||||||||
Antero Resources Corp. |
||||||||
7.625% due 2/1/2029(4) |
449,000 | 454,770 | ||||||
Callon Petroleum Co. |
||||||||
8.00% due 8/1/2028(4) |
240,000 | 240,295 | ||||||
CITGO Petroleum Corp. |
||||||||
8.375% due 1/15/2029(4) |
245,000 | 244,912 | ||||||
Civitas Resources, Inc. |
||||||||
8.375% due 7/1/2028(4) |
467,000 | 475,121 | ||||||
Comstock Resources, Inc. |
||||||||
6.75% due 3/1/2029(4) |
331,000 | 304,563 | ||||||
Continental Resources, Inc. |
||||||||
5.75% due 1/15/2031(4) |
1,750,000 | 1,642,567 | ||||||
Crescent Energy Finance LLC |
||||||||
9.25% due 2/15/2028(4) |
348,000 | 355,287 | ||||||
Diamondback Energy, Inc. |
||||||||
3.125% due 3/24/2031 |
800,000 | 667,152 | ||||||
Earthstone Energy Holdings LLC |
||||||||
8.00% due 4/15/2027(4) |
359,000 | 367,286 | ||||||
Ecopetrol SA |
||||||||
8.625% due 1/19/2029 |
245,000 | 246,169 | ||||||
EQT Corp. |
||||||||
7.00% due 2/1/2030 |
1,250,000 | 1,289,875 | ||||||
Occidental Petroleum Corp. |
||||||||
6.625% due 9/1/2030 |
928,000 | 940,250 | ||||||
Ovintiv, Inc. |
||||||||
6.50% due 2/1/2038 |
498,000 | 476,222 | ||||||
PBF Holding Co. LLC/PBF Finance Corp. |
||||||||
6.00% due 2/15/2028 |
252,000 | 237,472 | ||||||
Petroleos Mexicanos |
||||||||
6.70% due 2/16/2032 |
860,000 | 638,189 | ||||||
Transocean, Inc. |
||||||||
8.75% due 2/15/2030(4) |
422,750 | 432,169 | ||||||
Valaris Ltd. |
||||||||
8.375% due 4/30/2030(4) |
342,000 | 342,229 | ||||||
Vital Energy, Inc. |
||||||||
9.50% due 1/15/2025 |
75,000 | 75,668 | ||||||
10.125% due 1/15/2028 |
244,000 | 248,775 | ||||||
|
|
|||||||
9,678,971 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Packaging & Containers 0.3% |
||||||||
LABL, Inc. |
||||||||
9.50% due 11/1/2028(4) |
$ | 226,000 | $ | 232,143 | ||||
Mauser Packaging Solutions Holding Co. |
||||||||
7.875% due 8/15/2026(4) |
494,000 | 476,675 | ||||||
|
|
|||||||
708,818 | ||||||||
|
|
|||||||
Pharmaceuticals 1.7% |
||||||||
Cigna Group |
||||||||
2.40% due 3/15/2030 |
1,298,000 | 1,062,764 | ||||||
CVS Health Corp. |
||||||||
3.25% due 8/15/2029 |
1,500,000 | 1,312,095 | ||||||
5.05% due 3/25/2048 |
400,000 | 332,308 | ||||||
Horizon Therapeutics USA, Inc. |
||||||||
5.50% due 8/1/2027(4) |
200,000 | 205,500 | ||||||
Pfizer Investment Enterprises Pte. Ltd. |
||||||||
4.75% due 5/19/2033 |
1,059,000 | 1,003,508 | ||||||
|
|
|||||||
3,916,175 | ||||||||
|
|
|||||||
Pipelines 1.8% |
||||||||
Cheniere Energy Partners LP |
||||||||
3.25% due 1/31/2032 |
344,000 | 273,425 | ||||||
Columbia Pipeline Group, Inc. |
||||||||
4.50% due 6/1/2025 |
339,000 | 329,633 | ||||||
Eastern Gas Transmission & Storage, Inc. |
||||||||
3.00% due 11/15/2029 |
428,000 | 363,197 | ||||||
EIG Pearl Holdings SARL |
||||||||
3.545% due 8/31/2036(4) |
706,000 | 572,149 | ||||||
Galaxy Pipeline Assets Bidco Ltd. |
||||||||
3.25% due 9/30/2040(4) |
766,000 | 557,227 | ||||||
Kinder Morgan Energy Partners LP |
||||||||
4.25% due 9/1/2024 |
643,000 | 632,532 | ||||||
NGPL PipeCo LLC |
||||||||
3.25% due 7/15/2031(4) |
314,000 | 249,417 | ||||||
Sabine Pass Liquefaction LLC |
||||||||
5.625% due 3/1/2025 |
696,000 | 691,455 | ||||||
Venture Global LNG, Inc. |
||||||||
8.375% due 6/1/2031(4) |
472,000 | 465,321 | ||||||
|
|
|||||||
4,134,356 | ||||||||
|
|
|||||||
Real Estate Investment Trusts 1.7% |
||||||||
American Tower Corp. |
||||||||
2.40% due 3/15/2025 |
448,000 | 424,650 | ||||||
2.95% due 1/15/2025 |
235,000 | 225,814 | ||||||
3.80% due 8/15/2029 |
800,000 | 711,608 | ||||||
5.55% due 7/15/2033 |
299,000 | 285,004 | ||||||
Crown Castle, Inc. |
||||||||
2.10% due 4/1/2031 |
600,000 | 457,764 | ||||||
3.30% due 7/1/2030 |
800,000 | 674,944 | ||||||
EPR Properties |
||||||||
4.95% due 4/15/2028 |
414,000 | 366,092 | ||||||
Service Properties Trust |
||||||||
7.50% due 9/15/2025 |
233,000 | 228,678 | ||||||
VICI Properties LP/VICI Note Co., Inc. |
||||||||
5.625% due 5/1/2024(4) |
474,000 | 471,696 | ||||||
|
|
|||||||
3,846,250 | ||||||||
|
|
|||||||
Retail 0.4% |
||||||||
Bayer Corp. |
||||||||
6.65% due 2/15/2028(4) |
343,000 | 351,291 | ||||||
Evergreen Acqco 1 LP/TVI, Inc. |
||||||||
9.75% due 4/26/2028(4) |
220,000 | 225,799 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Retail (continued) |
||||||||
LCM Investments Holdings II LLC |
||||||||
4.875% due 5/1/2029(4) |
$ | 267,000 | $ | 225,994 | ||||
Macys Retail Holdings LLC |
||||||||
5.875% due 4/1/2029(4) |
278,000 | 243,158 | ||||||
|
|
|||||||
1,046,242 | ||||||||
|
|
|||||||
Semiconductors 0.2% |
||||||||
Broadcom, Inc. |
||||||||
4.15% due 4/15/2032(4) |
427,000 | 369,594 | ||||||
|
|
|||||||
369,594 | ||||||||
|
|
|||||||
Software 1.1% |
||||||||
Cloud Software Group, Inc. |
||||||||
6.50% due 3/31/2029(4) |
558,000 | 490,583 | ||||||
Intuit, Inc. |
||||||||
5.50% due 9/15/2053 |
286,000 | 274,720 | ||||||
Oracle Corp. |
||||||||
2.875% due 3/25/2031 |
915,000 | 747,445 | ||||||
6.25% due 11/9/2032 |
500,000 | 505,885 | ||||||
Workday, Inc. |
||||||||
3.80% due 4/1/2032 |
593,000 | 508,165 | ||||||
|
|
|||||||
2,526,798 | ||||||||
|
|
|||||||
Telecommunications 2.1% |
||||||||
AT&T, Inc. |
||||||||
4.30% due 2/15/2030 |
461,000 | 419,095 | ||||||
5.40% due 2/15/2034 |
874,000 | 817,496 | ||||||
Frontier Communications Holdings LLC |
||||||||
5.00% due 5/1/2028(4) |
575,000 | 491,464 | ||||||
Sprint Capital Corp. |
||||||||
6.875% due 11/15/2028 |
939,000 | 969,621 | ||||||
8.75% due 3/15/2032 |
212,000 | 245,432 | ||||||
T-Mobile USA, Inc. |
||||||||
3.50% due 4/15/2025 |
391,000 | 377,194 | ||||||
3.875% due 4/15/2030 |
1,500,000 | 1,327,755 | ||||||
Viasat, Inc. |
||||||||
5.625% due 9/15/2025(4) |
170,000 | 157,019 | ||||||
|
|
|||||||
4,805,076 | ||||||||
|
|
|||||||
Trucking & Leasing 0.1% |
||||||||
Fortress Transportation & |
||||||||
Infrastructure Investors LLC |
||||||||
5.50% due 5/1/2028(4) |
266,000 | 241,411 | ||||||
|
|
|||||||
241,411 | ||||||||
|
|
|||||||
Total Corporate Bonds & Notes |
121,046,795 | |||||||
|
|
|||||||
NonAgency MortgageBacked Securities 7.5% |
||||||||
Angel Oak Mortgage Trust |
||||||||
Series 2020-1, Class A1 |
||||||||
2.466% due 12/25/2059(1)(2)(4) |
30,961 | 28,603 | ||||||
BANK |
||||||||
Series 2022-BNK44, Class A5 |
||||||||
5.937% due 11/15/2055(1)(2) |
220,000 | 218,305 | ||||||
BBCMS Mortgage Trust |
||||||||
Series 2019-BWAY, Class A |
||||||||
6.403% due 11/15/2034(1)(2)(4) |
365,000 | 285,078 | ||||||
Series 2019-BWAY, Class B |
||||||||
6.757% due 11/15/2034(1)(2)(4) |
160,000 | 111,107 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
NonAgency MortgageBacked Securities (continued) |
||||||||
BHMS Mortgage Trust |
||||||||
Series 2018-ATLS, Class A |
||||||||
6.879% due 7/15/2035(1)(2)(4) |
$ | 750,000 | $ | 739,757 | ||||
BMO Mortgage Trust |
||||||||
Series 2023-C5, Class A4 |
||||||||
5.494% due 6/15/2056 |
460,000 | 445,493 | ||||||
BRAVO Residential Funding Trust |
||||||||
Series 2021-NQM2, Class A1 |
||||||||
0.97% due 3/25/2060(1)(2)(4) |
641,070 | 583,222 | ||||||
BX Commercial Mortgage Trust |
||||||||
Series 2021-XL2, Class A |
||||||||
6.135% due 10/15/2038(1)(2)(4) |
179,062 | 174,853 | ||||||
Chase Home Lending Mortgage Trust |
||||||||
Series 2023-1, Class A2 |
||||||||
6.00% due 6/25/2054(1)(2)(4) |
315,000 | 309,758 | ||||||
CIM Trust |
||||||||
Series 2021-J3, Class A1 |
||||||||
2.50% due 6/25/2051(1)(2)(4) |
893,863 | 675,360 | ||||||
Commercial Mortgage Trust |
||||||||
Series 2014-CR17, Class AM |
||||||||
4.174% due 5/10/2047 |
620,000 | 605,995 | ||||||
Series 2015-LC21, Class AM |
||||||||
4.043% due 7/10/2048(1)(2) |
522,000 | 489,389 | ||||||
Connecticut Avenue Securities Trust |
||||||||
Series 2021-R01, Class 1M2 |
||||||||
6.865% due 10/25/2041(1)(2)(4) |
430,000 | 427,001 | ||||||
Series 2023-R02, Class 1M1 |
||||||||
7.615% due 1/25/2043(1)(2)(4) |
479,642 | 486,308 | ||||||
CSMC Trust Capital Certificates |
||||||||
Series 2020-SPT1, Class A1 |
||||||||
1.616% due 4/25/2065(1)(2)(4) |
16,885 | 16,584 | ||||||
Deephaven Residential Mortgage Trust |
||||||||
Series 2021-3, Class A1 |
||||||||
1.194% due 8/25/2066(1)(2)(4) |
160,632 | 132,612 | ||||||
EQUS Mortgage Trust |
||||||||
Series 2021-EQAZ, Class A |
||||||||
6.202% due 10/15/2038(1)(2)(4) |
237,995 | 232,343 | ||||||
Fannie Mae Connecticut Avenue Securities |
||||||||
Series 2021-R02, Class 2M2 |
||||||||
7.315% due 11/25/2041(1)(2)(4) |
420,000 | 410,390 | ||||||
Series 2023-R01, Class 1M1 |
||||||||
7.715% due 12/25/2042(1)(2)(4) |
759,963 | 772,654 | ||||||
Flagstar Mortgage Trust |
||||||||
Series 2021-3INV, Class A2 |
||||||||
2.50% due 6/25/2051(1)(2)(4) |
607,610 | 463,785 | ||||||
Series 2021-7, Class A1 |
||||||||
2.50% due 8/25/2051(1)(2)(4) |
572,334 | 432,427 | ||||||
Freddie Mac STACR REMIC Trust |
||||||||
Series 2021-DNA3, Class M2 |
||||||||
7.415% due 10/25/2033(1)(2)(4) |
655,000 | 655,814 | ||||||
Series 2021-DNA6, Class M2 |
||||||||
6.815% due 10/25/2041(1)(2)(4) |
739,000 | 728,605 | ||||||
Series 2021-DNA7, Class M2 |
||||||||
7.115% due 11/25/2041(1)(2)(4) |
540,000 | 528,108 | ||||||
Series 2021-HQA4, Class M1 |
||||||||
6.265% due 12/25/2041(1)(2)(4) |
543,540 | 531,611 | ||||||
Series 2022-HQA3, Class M1A |
||||||||
7.615% due 8/25/2042(1)(2)(4) |
214,852 | 217,672 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||||||
NonAgency MortgageBacked Securities (continued) |
||||||||||||
Freddie Mac Structured Agency Credit Risk Debt Notes |
||||||||||||
Series 2023-DNA2, Class M1A |
||||||||||||
7.415% due 4/25/2043(1)(2)(4) |
$ | 547,514 | $ | 552,642 | ||||||||
GCAT Trust |
||||||||||||
Series 2023-NQM1, Class A1 |
||||||||||||
4.25% due 10/25/2057(1)(2)(4) |
981,521 | 903,155 | ||||||||||
GS Mortgage Securities Corp. Trust |
||||||||||||
Series 2021-ROSS, Class G |
||||||||||||
10.098% due 5/15/2026(1)(2)(4) |
660,000 | 370,110 | ||||||||||
GS Mortgage-Backed Securities Trust |
||||||||||||
Series 2021-PJ2, Class A2 |
||||||||||||
2.50% due 7/25/2051(1)(2)(4) |
471,560 | 356,217 | ||||||||||
Series 2021-PJ8, Class A2 |
||||||||||||
2.50% due 1/25/2052(1)(2)(4) |
641,136 | 484,411 | ||||||||||
Series 2023-PJ1, Class A4 |
||||||||||||
3.50% due 2/25/2053(1)(2)(4) |
512,335 | 420,734 | ||||||||||
JP Morgan Chase Commercial Mortgage Securities Trust |
||||||||||||
Series 2018-MINN, Class A |
||||||||||||
6.649% due 11/15/2035(1)(2)(4) |
339,000 | 323,756 | ||||||||||
Series 2020-MKST, Class E |
||||||||||||
7.947% due 12/15/2036(1)(2)(4) |
570,000 | 112,899 | ||||||||||
JP Morgan Mortgage Trust |
||||||||||||
Series 2021-13, Class A3 |
||||||||||||
2.50% due 4/25/2052(1)(2)(4) |
496,024 | 374,771 | ||||||||||
Series 2021-INV8, Class A2 |
||||||||||||
3.00% due 5/25/2052(1)(2)(4) |
467,895 | 368,866 | ||||||||||
Series 2022-3, Class A2 |
||||||||||||
3.00% due 8/25/2052(1)(2)(4) |
314,592 | 248,043 | ||||||||||
PFP Ltd. |
||||||||||||
Series 2023-10, Class A |
||||||||||||
7.696% due 9/16/2038(1)(2)(4) |
400,000 | 399,747 | ||||||||||
Ready Capital Mortgage Financing LLC |
||||||||||||
Series 2022-FL8, Class A |
||||||||||||
6.965% due 1/25/2037(1)(2)(4) |
923,720 | 913,057 | ||||||||||
Starwood Mortgage Residential Trust |
||||||||||||
Series 2020-3, Class A1 |
||||||||||||
1.486% due 4/25/2065(1)(2)(4) |
175,933 | 157,923 | ||||||||||
Verus Securitization Trust |
||||||||||||
Series 2020-1, Class A1 |
||||||||||||
2.417% due 1/25/2060(1)(2)(4) |
58,657 | 55,198 | ||||||||||
Series 2020-5, Class A1 |
||||||||||||
1.218% due 5/25/2065(1)(2)(4) |
230,349 | 208,287 | ||||||||||
Vista Point Securitization Trust |
||||||||||||
Series 2020-2, Class A1 |
||||||||||||
1.475% due 4/25/2065(1)(2)(4) |
123,657 | 110,298 | ||||||||||
Wells Fargo Mortgage-Backed Securities Trust |
||||||||||||
Series 2021-INV2, Class A2 |
||||||||||||
2.50% due 9/25/2051(1)(2)(4) |
416,323 | 313,866 | ||||||||||
|
|
|||||||||||
Total NonAgency MortgageBacked Securities |
17,376,814 | |||||||||||
|
|
|||||||||||
Foreign Government 3.5% |
||||||||||||
Bahrain Government International Bonds |
||||||||||||
6.75% due 9/20/2029(4) |
USD | 240,000 | 236,122 | |||||||||
CDP Financial, Inc. |
||||||||||||
4.25% due 7/25/2028(4) |
USD | 1,337,000 | 1,294,483 | |||||||||
Costa Rica Government International Bonds |
||||||||||||
6.55% due 4/3/2034(4) |
USD | 510,000 | 494,792 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||||||
Foreign Government (continued) |
||||||||||||
Mexico Government International Bonds |
||||||||||||
4.875% due 5/19/2033 |
USD | 670,000 | $ | 600,990 | ||||||||
Panama Government International Bonds |
||||||||||||
2.252% due 9/29/2032 |
USD | 633,000 | 458,045 | |||||||||
Republic of South Africa Government International Bonds |
||||||||||||
5.875% due 4/20/2032 |
USD | 275,000 | 233,393 | |||||||||
Senegal Government International Bonds |
||||||||||||
6.25% due 5/23/2033(4) |
USD | 290,000 | 231,861 | |||||||||
Svensk Exportkredit AB |
||||||||||||
4.875% due 9/14/2026 |
USD | 2,901,000 | 2,888,178 | |||||||||
4.875% due 10/4/2030 |
USD | 1,505,000 | 1,492,192 | |||||||||
Turkey Government International Bonds |
||||||||||||
4.25% due 4/14/2026 |
USD | 270,000 | 247,036 | |||||||||
|
|
|||||||||||
Total Foreign Government |
8,177,092 | |||||||||||
|
|
|||||||||||
U.S. Government Securities 6.3% |
||||||||||||
U.S. Treasury Bonds |
||||||||||||
1.125% due 8/15/2040 |
$ | 3,417,000 | 1,941,817 | |||||||||
1.875% due 11/15/2051 |
3,418,000 | 1,906,603 | ||||||||||
2.25% due 5/15/2041 |
962,000 | 660,022 | ||||||||||
4.125% due 8/15/2053 |
2,595,100 | 2,356,675 | ||||||||||
4.375% due 8/15/2043 |
1,841,000 | 1,718,459 | ||||||||||
U.S. Treasury Inflation-Indexed Notes |
||||||||||||
0.375% due 7/15/2025 |
2,526,381 | 2,419,159 | ||||||||||
U.S. Treasury Notes |
||||||||||||
4.375% due 8/15/2026 |
1,366,600 | 1,349,518 | ||||||||||
5.00% due 8/31/2025 |
2,164,900 | 2,160,333 | ||||||||||
|
|
|||||||||||
Total U.S. Government Securities |
14,512,586 | |||||||||||
|
|
|||||||||||
Repurchase Agreements 0.7% |
||||||||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $1,616,922, due 10/2/2023(6) |
1,616,706 | 1,616,706 | ||||||||||
|
|
|||||||||||
Total Repurchase Agreements |
1,616,706 | |||||||||||
|
|
|||||||||||
Total Investments 117.4% |
271,602,834 | |||||||||||
|
|
|||||||||||
Liabilities in excess of other assets (17.4)% |
(40,271,537 | ) | ||||||||||
|
|
|||||||||||
Total Net Assets 100.0% |
$ | 231,331,297 | ||||||||||
|
|
(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 September 30, 2023. |
(3) | TBA - To be announced. |
(4) | 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 September 30, 2023, the aggregate market value of these securities amounted to $102,031,806, representing 44.1% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Funds liquidity procedures approved by the Board of Trustees. |
(5) | The table below presents the security deemed illiquid by the investment adviser. |
Security |
Shares | Cost | Value | Acquisition Date |
% of Funds Net Assets |
|||||||||||||||
British Airways Pass-Through Trust Series 2020-1, Class A |
534,935 | $ | 562,913 | $ | 480,179 | |
11/17/2020 - 1/26/2022 |
0.21 | % |
(6) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 1,825,700 | $ | 1,649,071 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE PLUS FIXED INCOME VIP FUND
Open futures contracts at September 30, 2023:
Type |
Expiration | Contracts | Position | Notional Amount |
Notional Value |
Unrealized Depreciation |
||||||||||||||||
U.S. 2-Year Treasury Note |
December 2023 | 116 | Long | $ | 23,562,111 | $ | 23,514,469 | $ | (47,642 | ) | ||||||||||||
U.S. 10-Year Treasury Note |
December 2023 | 96 | Long | 10,565,886 | 10,374,000 | (191,886 | ) | |||||||||||||||
U.S. Long Bond |
December 2023 | 154 | Long | 18,529,984 | 17,522,312 | (1,007,672 | ) | |||||||||||||||
U.S. Ultra Bond |
December 2023 | 86 | Long | 10,871,908 | 10,207,125 | (664,783 | ) | |||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Total |
$ | 63,529,889 | $ | 61,617,906 | $ | (1,911,983 | ) | |||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Type |
Expiration | Contracts | Position | Notional Amount |
Notional Value |
Unrealized Appreciation |
||||||||||||||||
U.S. 5-Year Treasury Note |
December 2023 | 196 | Short | $ | (20,833,430 | ) | $ | (20,650,437 | ) | $ | 182,993 | |||||||||||
U.S. Ultra 10-Year Treasury Note |
December 2023 | 232 | Short | (26,587,577 | ) | (25,882,500 | ) | 705,077 | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Total |
$ | (47,421,007 | ) | $ | (46,532,937 | ) | $ | 888,070 | ||||||||||||||
|
|
|
|
|
|
Legend:
CLO Collateralized Loan Obligation
CMT Constant Maturity Treasury
REMIC Real Estate Mortgage Investment Conduit
SOFR Secured Overnight Financing Rate
STACR Structured Agency Credit Risk
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 September 30, 2023 in valuing the Funds 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 MortgageBacked Securities |
$ | | $ | 65,733,218 | $ | | $ | 65,733,218 | ||||||||
AssetBacked Securities |
| 43,139,623 | | 43,139,623 | ||||||||||||
Corporate Bonds & Notes |
| 121,046,795 | | 121,046,795 | ||||||||||||
NonAgency MortgageBacked Securities |
| 17,376,814 | | 17,376,814 | ||||||||||||
Foreign Government |
| 8,177,092 | | 8,177,092 | ||||||||||||
U.S. Government Securities |
| 14,512,586 | | 14,512,586 | ||||||||||||
Repurchase Agreements |
| 1,616,706 | | 1,616,706 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | | $ | 271,602,834 | $ | | $ | 271,602,834 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Other Financial Instruments |
| |||||||||||||||
Futures Contracts |
|
|||||||||||||||
Assets |
$ | 888,070 | $ | | $ | | $ | 888,070 | ||||||||
Liabilities |
(1,911,983 | ) | | | (1,911,983 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | (1,023,913 | ) | $ | | $ | | $ | (1,023,913 | ) | ||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SMALL CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 98.7% |
| |||||||
Automobile Components 0.9% |
| |||||||
Visteon Corp.(1) |
14,540 | $ | 2,007,538 | |||||
|
|
|||||||
2,007,538 | ||||||||
|
|
|||||||
Banks 7.9% |
| |||||||
Bank OZK |
88,393 | 3,276,729 | ||||||
Home Bancshares, Inc. |
155,300 | 3,251,982 | ||||||
Independent Bank Corp. |
53,500 | 2,626,315 | ||||||
Texas Capital Bancshares, Inc.(1) |
43,700 | 2,573,930 | ||||||
Washington Federal, Inc. |
103,205 | 2,644,112 | ||||||
Wintrust Financial Corp. |
47,006 | 3,548,953 | ||||||
|
|
|||||||
17,922,021 | ||||||||
|
|
|||||||
Biotechnology 0.8% |
| |||||||
Rhythm Pharmaceuticals, Inc.(1) |
34,600 | 793,205 | ||||||
Ultragenyx Pharmaceutical, Inc.(1) |
30,822 | 1,098,804 | ||||||
|
|
|||||||
1,892,009 | ||||||||
|
|
|||||||
Building Products 1.7% |
| |||||||
Janus International Group, Inc.(1) |
183,700 | 1,965,590 | ||||||
Tecnoglass, Inc. |
57,900 | 1,908,384 | ||||||
|
|
|||||||
3,873,974 | ||||||||
|
|
|||||||
Chemicals 2.2% |
| |||||||
Avient Corp. |
53,528 | 1,890,609 | ||||||
Olin Corp. |
63,823 | 3,189,873 | ||||||
|
|
|||||||
5,080,482 | ||||||||
|
|
|||||||
Communications Equipment 0.7% |
| |||||||
Extreme Networks, Inc.(1) |
61,300 | 1,484,073 | ||||||
|
|
|||||||
1,484,073 | ||||||||
|
|
|||||||
Construction & Engineering 1.4% |
| |||||||
Primoris Services Corp. |
96,872 | 3,170,621 | ||||||
|
|
|||||||
3,170,621 | ||||||||
|
|
|||||||
Construction Materials 1.4% |
| |||||||
Eagle Materials, Inc. |
19,200 | 3,197,184 | ||||||
|
|
|||||||
3,197,184 | ||||||||
|
|
|||||||
Consumer Finance 3.6% |
| |||||||
Encore Capital Group, Inc.(1) |
57,966 | 2,768,456 | ||||||
OneMain Holdings, Inc. |
74,700 | 2,994,723 | ||||||
PROG Holdings, Inc.(1) |
74,751 | 2,482,481 | ||||||
|
|
|||||||
8,245,660 | ||||||||
|
|
|||||||
Diversified Consumer Services 1.1% |
| |||||||
Stride, Inc.(1) |
53,876 | 2,426,036 | ||||||
|
|
|||||||
2,426,036 | ||||||||
|
|
|||||||
Diversified Telecommunication Services 0.7% |
| |||||||
Anterix, Inc.(1) |
53,639 | 1,683,192 | ||||||
|
|
|||||||
1,683,192 | ||||||||
|
|
|||||||
Electric Utilities 1.3% |
| |||||||
Portland General Electric Co. |
72,504 | 2,934,962 | ||||||
|
|
|||||||
2,934,962 | ||||||||
|
|
|||||||
Electrical Equipment 1.2% |
| |||||||
EnerSys |
28,835 | 2,729,809 | ||||||
|
|
|||||||
2,729,809 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SMALL CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Electronic Equipment, Instruments & Components 3.6% |
| |||||||
Advanced Energy Industries, Inc. |
18,492 | $ | 1,906,895 | |||||
Crane NXT Co. |
37,500 | 2,083,875 | ||||||
Itron, Inc.(1) |
46,242 | 2,801,340 | ||||||
nLight, Inc.(1) |
145,422 | 1,512,389 | ||||||
|
|
|||||||
8,304,499 | ||||||||
|
|
|||||||
Energy Equipment & Services 3.7% |
| |||||||
Atlas Energy Solutions, Inc., Class A |
118,900 | 2,643,147 | ||||||
Helmerich & Payne, Inc. |
60,694 | 2,558,859 | ||||||
Valaris Ltd.(1) |
44,200 | 3,314,116 | ||||||
|
|
|||||||
8,516,122 | ||||||||
|
|
|||||||
Entertainment 0.5% |
| |||||||
PLAYSTUDIOS, Inc.(1)(2) |
325,000 | 1,033,500 | ||||||
PLAYSTUDIOS, Inc.(1) |
44,181 | 140,496 | ||||||
|
|
|||||||
1,173,996 | ||||||||
|
|
|||||||
Financial Services 2.2% |
| |||||||
Essent Group Ltd. |
46,400 | 2,194,256 | ||||||
Euronet Worldwide, Inc.(1) |
36,800 | 2,921,184 | ||||||
|
|
|||||||
5,115,440 | ||||||||
|
|
|||||||
Food Products 0.9% |
| |||||||
Utz Brands, Inc. |
150,304 | 2,018,583 | ||||||
|
|
|||||||
2,018,583 | ||||||||
|
|
|||||||
Gas Utilities 0.8% |
| |||||||
ONE Gas, Inc. |
27,000 | 1,843,560 | ||||||
|
|
|||||||
1,843,560 | ||||||||
|
|
|||||||
Ground Transportation 1.2% |
| |||||||
Marten Transport Ltd. |
137,389 | 2,707,937 | ||||||
|
|
|||||||
2,707,937 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 2.3% |
| |||||||
Lantheus Holdings, Inc.(1) |
27,844 | 1,934,601 | ||||||
Omnicell, Inc.(1) |
28,659 | 1,290,801 | ||||||
QuidelOrtho Corp.(1) |
26,700 | 1,950,168 | ||||||
|
|
|||||||
5,175,570 | ||||||||
|
|
|||||||
Health Care Providers & Services 4.4% |
| |||||||
Acadia Healthcare Co., Inc.(1) |
37,905 | 2,665,101 | ||||||
CareMax, Inc.(1) |
10,858 | 23,019 | ||||||
CareMax, Inc.(1)(2) |
213,620 | 452,874 | ||||||
HealthEquity, Inc.(1) |
56,182 | 4,104,095 | ||||||
R1 RCM, Inc.(1) |
190,247 | 2,867,022 | ||||||
|
|
|||||||
10,112,111 | ||||||||
|
|
|||||||
Hotel & Resort REITs 0.9% |
| |||||||
RLJ Lodging Trust |
219,583 | 2,149,718 | ||||||
|
|
|||||||
2,149,718 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 2.9% |
| |||||||
Bloomin Brands, Inc. |
129,200 | 3,177,028 | ||||||
Everi Holdings, Inc.(1) |
259,255 | 3,427,351 | ||||||
|
|
|||||||
6,604,379 | ||||||||
|
|
|||||||
Household Durables 1.5% |
| |||||||
Century Communities, Inc. |
50,838 | 3,394,962 | ||||||
|
|
|||||||
3,394,962 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SMALL CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Industrial REITs 0.9% |
| |||||||
LXP Industrial Trust |
224,778 | $ | 2,000,524 | |||||
|
|
|||||||
2,000,524 | ||||||||
|
|
|||||||
Insurance 1.2% |
| |||||||
Assured Guaranty Ltd. |
44,505 | 2,693,443 | ||||||
|
|
|||||||
2,693,443 | ||||||||
|
|
|||||||
IT Services 1.1% |
| |||||||
BigCommerce Holdings, Inc., Series 1(1) |
248,900 | 2,456,643 | ||||||
|
|
|||||||
2,456,643 | ||||||||
|
|
|||||||
Leisure Products 1.8% |
| |||||||
Vista Outdoor, Inc.(1) |
123,383 | 4,086,445 | ||||||
|
|
|||||||
4,086,445 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 0.7% |
| |||||||
Maravai LifeSciences Holdings, Inc., Class A(1) |
149,700 | 1,497,000 | ||||||
|
|
|||||||
1,497,000 | ||||||||
|
|
|||||||
Machinery 3.7% |
| |||||||
Crane Co. |
22,600 | 2,007,784 | ||||||
Hillman Solutions Corp.(1) |
372,975 | 3,077,044 | ||||||
Terex Corp. |
59,300 | 3,416,866 | ||||||
|
|
|||||||
8,501,694 | ||||||||
|
|
|||||||
Media 2.3% |
| |||||||
Gambling.com Group Ltd.(1) |
115,300 | 1,508,124 | ||||||
Gray Television, Inc. |
222,016 | 1,536,351 | ||||||
Integral Ad Science Holding Corp.(1) |
176,135 | 2,094,245 | ||||||
|
|
|||||||
5,138,720 | ||||||||
|
|
|||||||
Metals & Mining 2.8% |
| |||||||
Commercial Metals Co. |
36,866 | 1,821,549 | ||||||
Constellium SE(1) |
145,544 | 2,648,901 | ||||||
MP Materials Corp.(1) |
101,376 | 1,936,281 | ||||||
|
|
|||||||
6,406,731 | ||||||||
|
|
|||||||
Mortgage REITs 1.0% |
| |||||||
Redwood Trust, Inc. |
306,358 | 2,184,333 | ||||||
|
|
|||||||
2,184,333 | ||||||||
|
|
|||||||
Office REITs 1.5% |
| |||||||
COPT Defense Properties |
138,734 | 3,306,031 | ||||||
|
|
|||||||
3,306,031 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 6.2% |
| |||||||
CNX Resources Corp.(1) |
108,514 | 2,450,246 | ||||||
HF Sinclair Corp. |
60,948 | 3,469,770 | ||||||
Magnolia Oil & Gas Corp., Class A |
175,945 | 4,030,900 | ||||||
Matador Resources Co. |
68,300 | 4,062,484 | ||||||
|
|
|||||||
14,013,400 | ||||||||
|
|
|||||||
Pharmaceuticals 2.1% |
| |||||||
Cara Therapeutics, Inc.(1) |
165,600 | 278,208 | ||||||
Intra-Cellular Therapies, Inc.(1) |
32,971 | 1,717,459 | ||||||
Prestige Consumer Healthcare, Inc.(1) |
48,800 | 2,790,872 | ||||||
|
|
|||||||
4,786,539 | ||||||||
|
|
|||||||
Professional Services 3.1% |
| |||||||
ICF International, Inc. |
26,494 | 3,200,740 | ||||||
Korn Ferry |
45,761 | 2,170,902 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SMALL CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Professional Services (continued) |
| |||||||
Sterling Check Corp.(1) |
141,123 | $ | 1,780,972 | |||||
|
|
|||||||
7,152,614 | ||||||||
|
|
|||||||
Retail REITs 1.5% |
| |||||||
Kite Realty Group Trust |
155,748 | 3,336,122 | ||||||
|
|
|||||||
3,336,122 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 3.3% |
| |||||||
indie Semiconductor, Inc., Class A(1) |
233,300 | 1,469,790 | ||||||
Photronics, Inc.(1) |
117,400 | 2,372,654 | ||||||
SMART Global Holdings, Inc.(1) |
149,575 | 3,642,151 | ||||||
|
|
|||||||
7,484,595 | ||||||||
|
|
|||||||
Software 4.4% |
| |||||||
CommVault Systems, Inc.(1) |
40,525 | 2,739,895 | ||||||
NCR Corp.(1) |
118,582 | 3,198,157 | ||||||
Rapid7, Inc.(1) |
52,634 | 2,409,585 | ||||||
WalkMe Ltd.(1) |
176,990 | 1,677,865 | ||||||
|
|
|||||||
10,025,502 | ||||||||
|
|
|||||||
Specialized REITs 1.2% |
| |||||||
PotlatchDeltic Corp. |
60,200 | 2,732,478 | ||||||
|
|
|||||||
2,732,478 | ||||||||
|
|
|||||||
Specialty Retail 3.6% |
| |||||||
Group 1 Automotive, Inc. |
12,529 | 3,366,667 | ||||||
Murphy USA, Inc. |
14,279 | 4,879,563 | ||||||
|
|
|||||||
8,246,230 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods 1.1% |
| |||||||
Oxford Industries, Inc. |
24,900 | 2,393,637 | ||||||
|
|
|||||||
2,393,637 | ||||||||
|
|
|||||||
Trading Companies & Distributors 5.4% |
| |||||||
Custom Truck One Source, Inc.(1) |
322,917 | 2,002,085 | ||||||
GATX Corp. |
25,001 | 2,720,859 | ||||||
Rush Enterprises, Inc., Class A |
83,940 | 3,427,270 | ||||||
Textainer Group Holdings Ltd. |
108,840 | 4,054,290 | ||||||
|
|
|||||||
12,204,504 | ||||||||
|
|
|||||||
Total Common Stocks |
|
224,411,623 | ||||||
|
|
|||||||
Principal Amount |
Value |
|||||||
Repurchase Agreements 0.8% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $1,857,838, due 10/2/2023(3) |
$ | 1,857,591 | 1,857,591 | |||||
|
|
|||||||
Total Repurchase Agreements |
|
1,857,591 | ||||||
|
|
|||||||
Total Investments 99.5% |
|
226,269,214 | ||||||
|
|
|||||||
Assets in excess of other liabilities 0.5% |
|
1,078,646 | ||||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 227,347,860 | |||||
|
|
(1) | Nonincomeproducing security. |
(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 September 30, 2023, the aggregate market value of these securities amounted to $1,486,374, representing 0.7% of net assets. |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SMALL CAP CORE VIP FUND
(3) | The table below presents collateral for repurchase agreements. |
|
Coupon |
Maturity Date |
Principal Amount |
Value |
||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 2,097,700 | $ | 1,894,756 |
Legend: |
REITs Real Estate Investment Trusts |
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 September 30, 2023 in valuing the Funds 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 |
$ | 224,411,623 | $ | | $ | | $ | 224,411,623 | ||||||||
Repurchase Agreements |
| 1,857,591 | | 1,857,591 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 224,411,623 | $ | 1,857,591 | $ | | $ | 226,269,214 | ||||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN GLOBAL UTILITIES VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 99.1% |
| |||||||
Bermuda 3.0% |
| |||||||
CK Infrastructure Holdings Ltd. |
356,500 | $ | 1,686,748 | |||||
|
|
|||||||
1,686,748 | ||||||||
|
|
|||||||
Brazil 2.7% |
| |||||||
Cia de Saneamento Basico do Estado de Sao Paulo |
125,100 | 1,518,905 | ||||||
|
|
|||||||
1,518,905 | ||||||||
|
|
|||||||
China 3.4% |
| |||||||
China Longyuan Power Group Corp. Ltd., Class H |
2,230,613 | 1,952,740 | ||||||
|
|
|||||||
1,952,740 | ||||||||
|
|
|||||||
France 5.7% |
| |||||||
Engie SA |
210,935 | 3,234,352 | ||||||
|
|
|||||||
3,234,352 | ||||||||
|
|
|||||||
Germany 3.4% |
| |||||||
RWE AG |
52,044 | 1,934,044 | ||||||
|
|
|||||||
1,934,044 | ||||||||
|
|
|||||||
Italy 4.4% |
| |||||||
Enel SpA |
407,108 | 2,498,109 | ||||||
|
|
|||||||
2,498,109 | ||||||||
|
|
|||||||
Japan 4.4% |
| |||||||
Kansai Electric Power Co., Inc. |
116,000 | 1,613,775 | ||||||
Tokyo Gas Co. Ltd. |
37,900 | 861,265 | ||||||
|
|
|||||||
2,475,040 | ||||||||
|
|
|||||||
Portugal 4.1% |
| |||||||
EDPEnergias de Portugal SA |
559,489 | 2,328,228 | ||||||
|
|
|||||||
2,328,228 | ||||||||
|
|
|||||||
Spain 4.8% |
| |||||||
Iberdrola SA |
245,171 | 2,737,436 | ||||||
|
|
|||||||
2,737,436 | ||||||||
|
|
|||||||
United Kingdom 4.6% |
| |||||||
National Grid PLC |
219,461 | 2,619,651 | ||||||
|
|
|||||||
2,619,651 | ||||||||
|
|
|||||||
United States 58.6% |
| |||||||
AES Corp. |
83,484 | 1,268,957 | ||||||
American Electric Power Co., Inc. |
36,264 | 2,727,778 | ||||||
Atmos Energy Corp. |
25,927 | 2,746,447 | ||||||
CenterPoint Energy, Inc. |
86,204 | 2,314,578 | ||||||
Dominion Energy, Inc. |
67,360 | 3,008,971 | ||||||
Duke Energy Corp. |
37,943 | 3,348,849 | ||||||
Edison International |
42,217 | 2,671,914 | ||||||
Exelon Corp. |
61,937 | 2,340,599 | ||||||
NextEra Energy, Inc. |
42,256 | 2,420,846 | ||||||
PG&E Corp.(1) |
120,225 | 1,939,229 | ||||||
Sempra |
37,445 | 2,547,384 | ||||||
Southern Co. |
40,579 | 2,626,273 | ||||||
Vistra Corp. |
96,762 | 3,210,563 | ||||||
|
|
|||||||
33,172,388 | ||||||||
|
|
|||||||
Total Common Stocks |
|
56,157,641 | ||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN GLOBAL UTILITIES VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Repurchase Agreements 0.6% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $329,307, due 10/2/2023(2) |
$ | 329,263 | $ | 329,263 | ||||
|
|
|||||||
Total Repurchase Agreements |
|
329,263 | ||||||
|
|
|||||||
Total Investments 99.7% |
|
56,486,904 | ||||||
|
|
|||||||
Assets in excess of other liabilities 0.3% |
|
171,596 | ||||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 56,658,500 | |||||
|
|
(1) | Nonincomeproducing security. |
(2) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 371,900 | $ | 335,920 |
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 September 30, 2023 in valuing the Funds 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 |
$ | | $ | 1,686,748 | * | $ | | $ | 1,686,748 | |||||||||||
Brazil |
1,518,905 | | | 1,518,905 | ||||||||||||||||
China |
| 1,952,740 | * | | 1,952,740 | |||||||||||||||
France |
| 3,234,352 | * | | 3,234,352 | |||||||||||||||
Germany |
| 1,934,044 | * | | 1,934,044 | |||||||||||||||
Italy |
| 2,498,109 | * | | 2,498,109 | |||||||||||||||
Japan |
| 2,475,040 | * | | 2,475,040 | |||||||||||||||
Portugal |
| 2,328,228 | * | | 2,328,228 | |||||||||||||||
Spain |
| 2,737,436 | * | | 2,737,436 | |||||||||||||||
United Kingdom |
| 2,619,651 | * | | 2,619,651 | |||||||||||||||
United States |
33,172,388 | | | 33,172,388 | ||||||||||||||||
Repurchase Agreements |
| 329,263 | | 329,263 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Total |
$ | 34,691,293 | $ | 21,795,611 | $ | | $ | 56,486,904 | ||||||||||||
|
|
|
|
|
|
|
|
* | 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
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Agency Mortgage-Backed Securities 12.2% |
| |||||||
Federal Home Loan Mortgage Corp. |
||||||||
2.50% due 9/1/2052 |
$ | 3,616,827 | $ | 2,871,198 | ||||
3.50% due 6/1/2052 |
2,974,894 | 2,557,385 | ||||||
4.00% due 10/1/2037 |
423,299 | 399,345 | ||||||
4.00% due 6/1/2052 |
4,159,892 | 3,708,050 | ||||||
4.50% due 9/1/2052 |
472,671 | 433,880 | ||||||
5.00% due 12/1/2052 |
1,043,585 | 984,422 | ||||||
Federal National Mortgage Association |
||||||||
2.50% due 5/1/2052 |
1,209,976 | 960,532 | ||||||
3.00% due 7/1/2051 |
1,761,821 | 1,459,312 | ||||||
3.00% due 3/1/2052 |
3,898,351 | 3,226,720 | ||||||
3.00% due 5/1/2052 |
2,145,493 | 1,777,161 | ||||||
3.50% due 6/1/2052 |
4,847,030 | 4,171,149 | ||||||
3.50% due 10/1/2052 |
1,920,969 | 1,651,234 | ||||||
3.50% due 11/1/2052 |
1,826,558 | 1,570,443 | ||||||
4.00% due 12/1/2052 |
1,257,944 | 1,120,332 | ||||||
|
|
|||||||
Total Agency Mortgage-Backed Securities |
|
26,891,163 | ||||||
|
|
|||||||
Asset-Backed Securities 18.6% |
||||||||
AIMCO CLO |
||||||||
Series 2017-AA, Class DR |
||||||||
8.738% (3 mo. USD Term SOFR + 3.41%) due 4/20/2034(1)(2) |
1,800,000 | 1,702,800 | ||||||
Allegro CLO VI Ltd. |
||||||||
Series 2017-2A, Class B |
||||||||
7.07% (3 mo. USD Term SOFR + 1.76%) due 1/17/2031(1)(2) |
1,000,000 | 984,900 | ||||||
Anchorage Capital CLO 17 Ltd. |
||||||||
Series 2021-17A, Class A1 |
||||||||
6.74% (3 mo. USD Term SOFR + 1.43%) due 7/15/2034(1)(2) |
1,500,000 | 1,483,500 | ||||||
Ares XXXIV CLO Ltd. |
||||||||
Series 2015-2A, Class BR2 |
||||||||
7.17% (3 mo. USD Term SOFR + 1.86%) due 4/17/2033(1)(2) |
300,000 | 294,300 | ||||||
Avis Budget Rental Car Funding AESOP LLC |
||||||||
Series 2019-3A, Class A |
||||||||
2.36% due 3/20/2026(1) |
1,180,000 | 1,123,113 | ||||||
Barings CLO Ltd. |
||||||||
Series 2020-1A, Class AR |
||||||||
6.72% (3 mo. USD Term SOFR + 1.41%) due 10/15/2036(1)(2) |
1,350,000 | 1,341,129 | ||||||
Battalion CLO X Ltd. |
||||||||
Series 2016-10A, Class A1R2 |
||||||||
6.777% (3 mo. USD Term SOFR + 1.43%) due 1/25/2035(1)(2) |
1,500,000 | 1,482,750 | ||||||
Battery Park CLO II Ltd. |
||||||||
Series 2022-1A, Class A1 |
||||||||
7.536% (3 mo. USD Term SOFR + 2.21%) due 10/20/2035(1)(2) |
1,800,000 | 1,807,740 | ||||||
BlueMountain CLO Ltd. |
||||||||
Series 2014-2A, Class BR2 |
||||||||
7.338% (3 mo. USD Term SOFR + 2.01%) due 10/20/2030(1)(2) |
600,000 | 594,240 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MULTI-SECTOR BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Asset-Backed Securities (continued) |
| |||||||
CarMax Auto Owner Trust |
||||||||
Series 2020-4, Class B |
||||||||
0.85% due 6/15/2026 |
$ | 1,250,000 | $ | 1,172,406 | ||||
Cathedral Lake VI Ltd. |
||||||||
Series 2021-6A, Class AN |
||||||||
6.863% (3 mo. USD Term SOFR + 1.51%) due 4/25/2034(1)(2) |
1,400,000 | 1,389,935 | ||||||
CIFC Funding Ltd. |
||||||||
Series 2013-4A, Class BRR |
||||||||
7.219% (3 mo. USD Term SOFR + 1.86%) due 4/27/2031(1)(2) |
1,200,000 | 1,184,760 | ||||||
DB Master Finance LLC |
||||||||
Series 2021-1A, Class A2II |
||||||||
2.493% due 11/20/2051(1) |
933,375 | 777,413 | ||||||
Dryden 80 CLO Ltd. |
||||||||
Series 2019-80A, Class AR |
||||||||
6.558% (3 mo. USD Term SOFR + 1.25%) due 1/17/2033(1)(2) |
1,700,000 | 1,688,780 | ||||||
Elmwood CLO IX Ltd. |
||||||||
Series 2021-2A, Class C |
||||||||
7.488% (3 mo. USD Term SOFR + 2.16%) due 7/20/2034(1)(2) |
1,000,000 | 967,400 | ||||||
GM Financial Automobile Leasing Trust |
||||||||
Series 2023-1, Class A3 |
||||||||
5.16% due 4/20/2026 |
1,050,000 | 1,039,335 | ||||||
Greywolf CLO II Ltd. |
||||||||
Series 2013-1A, Class C2RR |
||||||||
9.768% (3 mo. USD Term SOFR + 4.46%) due 4/15/2034(1)(2) |
2,400,000 | 2,321,129 | ||||||
Gulf Stream Meridian 6 Ltd. |
||||||||
Series 2021-6A, Class A1 |
||||||||
6.76% (3 mo. USD Term SOFR + 1.45%) due 1/15/2037(1)(2) |
1,300,000 | 1,291,420 | ||||||
Hyundai Auto Receivables Trust |
||||||||
Series 2021-A, Class A3 |
||||||||
0.38% due 9/15/2025 |
871,933 | 853,687 | ||||||
ICG U.S. CLO Ltd. |
||||||||
Series 2018-2A, Class B |
||||||||
7.357% (3 mo. USD Term SOFR + 2.01%) due 7/22/2031(1)(2) |
1,000,000 | 986,454 | ||||||
Series 2022-1A, Class A1 |
||||||||
6.866% (3 mo. USD Term SOFR + 1.54%) due 7/20/2035(1)(2) |
1,300,000 | 1,292,460 | ||||||
KKR CLO 38 Ltd. |
||||||||
Series 38A, Class A1 |
||||||||
6.628% (3 mo. USD Term SOFR + 1.32%) due 4/15/2033(1)(2) |
1,500,000 | 1,483,900 | ||||||
Madison Park Funding XXIII Ltd. |
||||||||
Series 2017-23A, Class BR |
||||||||
7.169% (3 mo. USD Term SOFR + 1.81%) due 7/27/2031(1)(2) |
1,150,000 | 1,137,235 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MULTI-SECTOR BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Asset-Backed Securities (continued) |
||||||||
Neuberger Berman CLO XVII Ltd. |
||||||||
Series 2014-17A, Class BR2 |
||||||||
7.107% (3 mo. USD Term SOFR + 1.76%) due 4/22/2029(1)(2) |
$ | 1,400,000 | $ | 1,385,160 | ||||
Neuberger Berman Loan Advisers CLO 40 Ltd. |
||||||||
Series 2021-40A, Class A |
||||||||
6.63% (3 mo. USD Term SOFR + 1.32%) due 4/16/2033(1)(2) |
1,400,000 | 1,390,480 | ||||||
Nissan Auto Lease Trust |
||||||||
Series 2023-A, Class A4 |
||||||||
4.80% due 7/15/2027 |
900,000 | 886,144 | ||||||
Octagon Investment Partners 50 Ltd. |
||||||||
Series 2020-4A, Class DR |
||||||||
8.72% (3 mo. USD Term SOFR + 3.41%) due 1/15/2035(1)(2) |
400,000 | 362,000 | ||||||
OHA Credit Funding 2 Ltd. |
||||||||
Series 2019-2A, Class CR |
||||||||
7.795% (SOFR + 2.55%) due 4/21/2034(1)(2) |
1,800,000 | 1,772,280 | ||||||
Oscar U.S. Funding XIV LLC |
||||||||
Series 2022-1A, Class A2 |
||||||||
1.60% due 3/10/2025(1) |
256,188 | 254,571 | ||||||
Oscar U.S. Funding XV LLC |
||||||||
Series 2023-1A, Class A3 |
||||||||
5.81% due 12/10/2027(1) |
700,000 | 695,436 | ||||||
TCW CLO Ltd. |
||||||||
Series 2021-1A, Class A |
||||||||
6.758% (3 mo. USD Term SOFR + 1.43%) due 3/18/2034(1)(2) |
1,500,000 | 1,481,100 | ||||||
TIAA CLO IV Ltd. |
||||||||
Series 2018-1A, Class A2 |
||||||||
7.288% (3 mo. USD Term SOFR + 1.96%) due 1/20/2032(1)(2) |
1,520,000 | 1,498,720 | ||||||
Trinitas CLO XVI Ltd. |
||||||||
Series 2021-16A, Class A1 |
||||||||
6.768% (3 mo. USD Term SOFR + 1.44%) due 7/20/2034(1)(2) |
1,200,000 | 1,182,720 | ||||||
Voya CLO Ltd. |
||||||||
Series 2016-3A, Class A3R |
||||||||
7.322% (3 mo. USD Term SOFR + 2.01%) due 10/18/2031(1)(2) |
835,000 | 824,980 | ||||||
World Omni Auto Receivables Trust |
||||||||
Series 2022-C, Class A2 |
||||||||
3.73% due 3/16/2026 |
811,820 | 805,106 | ||||||
|
|
|||||||
Total AssetBacked Securities |
|
40,939,483 | ||||||
|
|
|||||||
Corporate Bonds & Notes 21.4% |
| |||||||
Advertising 0.2% |
| |||||||
Outfront Media Capital LLC/Outfront Media Capital Corp. |
||||||||
4.25% due 1/15/2029(1) |
500,000 | 396,105 | ||||||
|
|
|||||||
396,105 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MULTI-SECTOR BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Aerospace & Defense 0.4% |
||||||||
Bombardier, Inc. |
||||||||
7.875% due 4/15/2027(1) |
$ | 500,000 | $ | 487,790 | ||||
Lockheed Martin Corp. |
||||||||
4.75% due 2/15/2034 |
200,000 | 189,378 | ||||||
5.20% due 2/15/2055 |
300,000 | 277,503 | ||||||
|
|
|||||||
954,671 | ||||||||
|
|
|||||||
Agriculture 0.2% |
| |||||||
BAT Capital Corp. |
||||||||
6.343% due 8/2/2030 |
500,000 | 492,440 | ||||||
|
|
|||||||
492,440 | ||||||||
|
|
|||||||
Auto Parts & Equipment 0.3% |
| |||||||
Adient Global Holdings Ltd. |
||||||||
8.25% due 4/15/2031(1) |
500,000 | 500,625 | ||||||
American Axle & Manufacturing, Inc. |
||||||||
5.00% due 10/1/2029 |
250,000 | 202,365 | ||||||
|
|
|||||||
702,990 | ||||||||
|
|
|||||||
Beverages 0.5% |
| |||||||
Anheuser-Busch InBev Worldwide, Inc. |
||||||||
3.50% due 6/1/2030 |
800,000 | 712,248 | ||||||
5.55% due 1/23/2049 |
400,000 | 384,132 | ||||||
|
|
|||||||
1,096,380 | ||||||||
|
|
|||||||
Biotechnology 0.2% |
| |||||||
Gilead Sciences, Inc. |
||||||||
5.25% due 10/15/2033 |
350,000 | 341,870 | ||||||
|
|
|||||||
341,870 | ||||||||
|
|
|||||||
Chemicals 0.2% |
| |||||||
Nutrien Ltd. |
||||||||
2.95% due 5/13/2030 |
500,000 | 417,675 | ||||||
|
|
|||||||
417,675 | ||||||||
|
|
|||||||
Commercial Banks 4.8% |
| |||||||
Bank of America Corp. |
||||||||
4.271% (4.271% fixed rate until 7/23/2028; 3 mo. USD Term SOFR + 1.57% thereafter) due 7/23/2029(2) |
2,600,000 | 2,395,016 | ||||||
Barclays PLC |
||||||||
2.645% (2.645% fixed rate until 6/24/2030; 1 yr. CMT + 1.90% thereafter) due 6/24/2031(2) |
400,000 | 309,044 | ||||||
4.972% (4.972% fixed rate until 5/16/2028; SOFR + 2.25% thereafter) due 5/16/2029(2) |
400,000 | 373,852 | ||||||
BNP Paribas SA |
||||||||
2.159% (2.159% fixed rate until 9/15/2028; SOFR + 1.22% thereafter) due |
600,000 | 494,412 | ||||||
Deutsche Bank AG |
||||||||
2.311% (2.311% fixed rate until 11/16/2026; SOFR + 1.22% thereafter) due 11/16/2027(2) |
1,600,000 | 1,393,488 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MULTI-SECTOR BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
| |||||||
Commercial Banks (continued) |
| |||||||
Discover Bank |
||||||||
5.974% (5 yr. USD Swap + 1.73%) due 8/9/2028(2) |
$ | 400,000 | $ | 365,568 | ||||
Fifth Third Bank NA |
||||||||
2.25% due 2/1/2027 |
1,500,000 | 1,313,490 | ||||||
Huntington Bancshares, Inc. |
||||||||
6.208% (6.208% fixed rate until 8/21/2028; SOFR + 2.02% thereafter) due 8/21/2029(2) |
300,000 | 293,724 | ||||||
Huntington National Bank |
||||||||
4.552% (4.552% fixed rate until 5/17/2027; SOFR + 1.65% thereafter) due 5/17/2028(2) |
700,000 | 653,884 | ||||||
JPMorgan Chase & Co. |
||||||||
1.578% (1.578% fixed rate until 4/22/2026; SOFR + 0.89% thereafter) due 4/22/2027(2) |
1,200,000 | 1,070,376 | ||||||
Morgan Stanley |
||||||||
5.123% (5.123% fixed rate until 2/1/2028; SOFR + 1.73% thereafter) due 2/1/2029(2) |
800,000 | 770,752 | ||||||
5.424% (5.424% fixed rate until 7/21/2033; SOFR + 1.88% thereafter) due 7/21/2034(2) |
300,000 | 283,407 | ||||||
NatWest Group PLC |
||||||||
5.808% (5.808% fixed rate until 9/13/2028; 1 yr. CMT + 1.95% thereafter) due 9/13/2029(2) |
900,000 | 872,955 | ||||||
|
|
|||||||
10,589,968 | ||||||||
|
|
|||||||
Commercial Services 0.2% |
| |||||||
Avis Budget Car Rental LLC/Avis Budget Finance, Inc. |
||||||||
5.375% due 3/1/2029(1) |
500,000 | 444,795 | ||||||
|
|
|||||||
444,795 | ||||||||
|
|
|||||||
Computers 0.2% |
| |||||||
Apple, Inc. |
||||||||
2.65% due 2/8/2051 |
200,000 | 121,340 | ||||||
3.35% due 8/8/2032 |
300,000 | 264,336 | ||||||
|
|
|||||||
385,676 | ||||||||
|
|
|||||||
Diversified Financial Services 1.1% |
| |||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust |
||||||||
3.00% due 10/29/2028 |
1,200,000 | 1,027,392 | ||||||
Air Lease Corp. |
||||||||
5.30% due 2/1/2028 |
500,000 | 483,295 | ||||||
Charles Schwab Corp. |
||||||||
6.136% (6.136% fixed rate until 8/24/2033; SOFR + 2.01% thereafter) due 8/24/2034(2) |
200,000 | 194,144 | ||||||
Jefferies Financial Group, Inc. |
||||||||
5.875% due 7/21/2028 |
400,000 | 391,356 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MULTI-SECTOR BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
| |||||||
Diversified Financial Services (continued) |
| |||||||
Mastercard, Inc. |
||||||||
4.85% due 3/9/2033 |
$ | 300,000 | $ | 288,918 | ||||
|
|
|||||||
2,385,105 | ||||||||
|
|
|||||||
Electric 1.4% |
| |||||||
Duke Energy Carolinas LLC |
||||||||
4.95% due 1/15/2033 |
300,000 | 285,348 | ||||||
Duke Energy Corp. |
||||||||
3.50% due 6/15/2051 |
450,000 | 290,704 | ||||||
5.00% due 8/15/2052 |
200,000 | 166,016 | ||||||
Eversource Energy |
||||||||
5.125% due 5/15/2033 |
400,000 | 372,668 | ||||||
PPL Electric Utilities Corp. |
||||||||
5.00% due 5/15/2033 |
200,000 | 190,608 | ||||||
5.25% due 5/15/2053 |
300,000 | 273,183 | ||||||
Public Service Electric & Gas Co. |
||||||||
4.65% due 3/15/2033 |
600,000 | 563,772 | ||||||
5.45% due 8/1/2053 |
100,000 | 95,119 | ||||||
Southern Co. |
||||||||
5.70% due 3/15/2034 |
400,000 | 392,956 | ||||||
Wisconsin Public Service Corp. |
||||||||
2.85% due 12/1/2051 |
100,000 | 58,371 | ||||||
Xcel Energy, Inc. |
||||||||
5.45% due 8/15/2033 |
400,000 | 381,988 | ||||||
|
|
|||||||
3,070,733 | ||||||||
|
|
|||||||
Electronics 0.2% |
| |||||||
Honeywell International, Inc. |
||||||||
1.95% due 6/1/2030 |
500,000 | 404,150 | ||||||
|
|
|||||||
404,150 | ||||||||
|
|
|||||||
Entertainment 0.8% |
| |||||||
Caesars Entertainment, Inc. |
||||||||
8.125% due 7/1/2027(1) |
500,000 | 502,395 | ||||||
Cinemark USA, Inc. |
||||||||
5.25% due 7/15/2028(1) |
250,000 | 221,965 | ||||||
Light & Wonder International, Inc. |
||||||||
7.00% due 5/15/2028(1) |
500,000 | 491,630 | ||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. |
||||||||
7.125% due 2/15/2031(1) |
450,000 | 427,446 | ||||||
|
|
|||||||
1,643,436 | ||||||||
|
|
|||||||
Environmental Control 0.4% |
| |||||||
Waste Management, Inc. |
||||||||
4.15% due 4/15/2032 |
900,000 | 819,189 | ||||||
|
|
|||||||
819,189 | ||||||||
|
|
|||||||
Food 0.2% |
| |||||||
Pilgrims Pride Corp. |
||||||||
3.50% due 3/1/2032 |
600,000 | 464,466 | ||||||
|
|
|||||||
464,466 | ||||||||
|
|
|||||||
Healthcare-Services 0.7% |
| |||||||
CHS/Community Health Systems, Inc. |
||||||||
5.25% due 5/15/2030(1) |
500,000 | 380,955 | ||||||
Elevance Health, Inc. |
||||||||
4.75% due 2/15/2033 |
400,000 | 372,288 | ||||||
5.125% due 2/15/2053 |
100,000 | 88,712 | ||||||
UnitedHealth Group, Inc. |
||||||||
4.20% due 5/15/2032 |
500,000 | 455,635 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MULTI-SECTOR BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
| |||||||
Healthcare-Services (continued) |
| |||||||
5.875% due 2/15/2053 |
$ | 200,000 | $ | 200,802 | ||||
|
|
|||||||
1,498,392 | ||||||||
|
|
|||||||
Insurance 0.9% |
| |||||||
Athene Holding Ltd. |
||||||||
3.50% due 1/15/2031 |
400,000 | 325,332 | ||||||
Hartford Financial Services Group, Inc. |
||||||||
2.80% due 8/19/2029 |
400,000 | 343,036 | ||||||
MetLife, Inc. |
||||||||
5.25% due 1/15/2054 |
200,000 | 178,226 | ||||||
5.375% due 7/15/2033 |
500,000 | 480,320 | ||||||
Progressive Corp. |
||||||||
4.95% due 6/15/2033 |
700,000 | 665,490 | ||||||
Prudential Financial, Inc. |
||||||||
3.70% due 3/13/2051 |
100,000 | 69,497 | ||||||
|
|
|||||||
2,061,901 | ||||||||
|
|
|||||||
Leisure Time 0.7% |
| |||||||
Carnival Holdings Bermuda Ltd. |
||||||||
10.375% due 5/1/2028(1) |
500,000 | 535,925 | ||||||
Royal Caribbean Cruises Ltd. |
||||||||
7.25% due 1/15/2030(1) |
500,000 | 495,585 | ||||||
VOC Escrow Ltd. |
||||||||
5.00% due 2/15/2028(1) |
500,000 | 455,125 | ||||||
|
|
|||||||
1,486,635 | ||||||||
|
|
|||||||
Lodging 0.2% |
| |||||||
Station Casinos LLC |
||||||||
4.50% due 2/15/2028(1) |
500,000 | 436,185 | ||||||
|
|
|||||||
436,185 | ||||||||
|
|
|||||||
Machinery-Diversified 0.1% |
| |||||||
John Deere Capital Corp. |
||||||||
Series I |
||||||||
5.15% due 9/8/2033 |
300,000 | 293,415 | ||||||
|
|
|||||||
293,415 | ||||||||
|
|
|||||||
Media 0.1% |
| |||||||
Comcast Corp. |
||||||||
1.95% due 1/15/2031 |
200,000 | 156,378 | ||||||
|
|
|||||||
156,378 | ||||||||
|
|
|||||||
Miscellaneous Manufacturing 0.3% |
| |||||||
Parker-Hannifin Corp. |
||||||||
4.00% due 6/14/2049 |
100,000 | 76,015 | ||||||
4.50% due 9/15/2029 |
500,000 | 472,760 | ||||||
|
|
|||||||
548,775 | ||||||||
|
|
|||||||
Oil & Gas 1.2% |
| |||||||
BP Capital Markets America, Inc. |
||||||||
4.812% due 2/13/2033 |
1,100,000 | 1,030,216 | ||||||
Callon Petroleum Co. |
||||||||
8.00% due 8/1/2028(1) |
500,000 | 500,615 | ||||||
Cenovus Energy, Inc. |
||||||||
2.65% due 1/15/2032 |
200,000 | 155,434 | ||||||
Comstock Resources, Inc. |
||||||||
6.75% due 3/1/2029(1) |
500,000 | 460,065 | ||||||
Occidental Petroleum Corp. |
||||||||
7.50% due 5/1/2031 |
500,000 | 528,750 | ||||||
|
|
|||||||
2,675,080 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MULTI-SECTOR BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
| |||||||
Oil & Gas Services 0.1% |
| |||||||
Schlumberger Investment SA |
||||||||
4.85% due 5/15/2033 |
$ | 300,000 | $ | 282,942 | ||||
|
|
|||||||
282,942 | ||||||||
|
|
|||||||
Pharmaceuticals 1.7% |
| |||||||
AbbVie, Inc. |
||||||||
3.20% due 11/21/2029 |
1,200,000 | 1,058,748 | ||||||
4.55% due 3/15/2035 |
200,000 | 181,922 | ||||||
CVS Health Corp. |
||||||||
5.30% due 6/1/2033 |
900,000 | 852,660 | ||||||
5.875% due 6/1/2053 |
300,000 | 277,710 | ||||||
Pfizer Investment Enterprises Pte. Ltd. |
||||||||
4.75% due 5/19/2033 |
1,200,000 | 1,137,120 | ||||||
5.30% due 5/19/2053 |
200,000 | 185,756 | ||||||
|
|
|||||||
3,693,916 | ||||||||
|
|
|||||||
Pipelines 0.7% |
| |||||||
Cheniere Energy Partners LP |
||||||||
5.95% due 6/30/2033(1) |
500,000 | 482,275 | ||||||
Energy Transfer LP |
||||||||
3.75% due 5/15/2030 |
500,000 | 435,885 | ||||||
Western Midstream Operating LP |
||||||||
6.15% due 4/1/2033 |
600,000 | 579,096 | ||||||
|
|
|||||||
1,497,256 | ||||||||
|
|
|||||||
Real Estate Investment Trusts 0.4% |
| |||||||
American Tower Corp. |
||||||||
5.65% due 3/15/2033 |
400,000 | 384,140 | ||||||
Extra Space Storage LP |
||||||||
5.50% due 7/1/2030 |
600,000 | 580,554 | ||||||
|
|
|||||||
964,694 | ||||||||
|
|
|||||||
Retail 0.3% |
| |||||||
Lowes Cos., Inc. |
||||||||
5.15% due 7/1/2033 |
700,000 | 665,343 | ||||||
5.625% due 4/15/2053 |
100,000 | 90,897 | ||||||
|
|
|||||||
756,240 | ||||||||
|
|
|||||||
Semiconductors 0.4% |
| |||||||
Intel Corp. |
||||||||
5.20% due 2/10/2033 |
500,000 | 483,950 | ||||||
Marvell Technology, Inc. |
||||||||
5.95% due 9/15/2033 |
400,000 | 393,316 | ||||||
|
|
|||||||
877,266 | ||||||||
|
|
|||||||
Software 1.1% |
| |||||||
Cloud Software Group, Inc. |
||||||||
6.50% due 3/31/2029(1) |
500,000 | 439,590 | ||||||
Microsoft Corp. |
||||||||
2.921% due 3/17/2052 |
700,000 | 459,284 | ||||||
3.30% due 2/6/2027 |
800,000 | 758,976 | ||||||
Oracle Corp. |
||||||||
5.55% due 2/6/2053 |
200,000 | 175,290 | ||||||
6.25% due 11/9/2032 |
400,000 | 404,708 | ||||||
6.90% due 11/9/2052 |
200,000 | 205,946 | ||||||
|
|
|||||||
2,443,794 | ||||||||
|
|
|||||||
Telecommunications 0.6% |
| |||||||
AT&T, Inc. |
||||||||
3.50% due 9/15/2053 |
500,000 | 308,930 | ||||||
5.40% due 2/15/2034 |
800,000 | 748,280 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MULTI-SECTOR BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
| |||||||
Telecommunications (continued) |
| |||||||
T-Mobile USA, Inc. |
||||||||
2.70% due 3/15/2032 |
$ | 450,000 | $ | 351,036 | ||||
|
|
|||||||
1,408,246 | ||||||||
|
|
|||||||
Toys, Games & Hobbies 0.4% |
| |||||||
Mattel, Inc. |
||||||||
3.75% due 4/1/2029(1) |
1,100,000 | 957,275 | ||||||
|
|
|||||||
957,275 | ||||||||
|
|
|||||||
Transportation 0.2% |
| |||||||
Union Pacific Corp. |
||||||||
4.50% due 1/20/2033 |
100,000 | 92,960 | ||||||
4.95% due 5/15/2053 |
400,000 | 358,068 | ||||||
|
|
|||||||
451,028 | ||||||||
|
|
|||||||
Total Corporate Bonds & Notes |
|
47,099,067 | ||||||
|
|
|||||||
NonAgency MortgageBacked Securities 10.4% |
| |||||||
BANK |
||||||||
Series 2017-BNK5, Class AS |
||||||||
3.624% due 6/15/2060 |
2,500,000 | 2,249,246 | ||||||
Series 2019-BNK24, Class AS |
||||||||
3.283% due 11/15/2062(2)(3) |
1,412,000 | 1,158,842 | ||||||
Series 2022-BNK43, Class B |
||||||||
5.327% due 8/15/2055(2)(3) |
500,000 | 411,703 | ||||||
BB-UBS Trust |
||||||||
Series 2012-SHOW, Class A |
||||||||
3.43% due 11/5/2036(1) |
1,200,000 | 1,085,775 | ||||||
Benchmark Mortgage Trust |
||||||||
Series 2019-B12, Class AS |
||||||||
3.419% due 8/15/2052 |
2,000,000 | 1,680,308 | ||||||
Chevy Chase Funding LLC Mortgage-Backed Certificates |
||||||||
Series 2005-1A, Class A1 |
||||||||
5.584% due 1/25/2036(1)(2)(3) |
1,612,199 | 1,469,644 | ||||||
CHL Mortgage Pass-Through Trust |
||||||||
Series 2005-3, Class 1A2 |
||||||||
6.014% due 4/25/2035(2)(3) |
571,140 | 514,026 | ||||||
Citigroup Commercial Mortgage Trust |
||||||||
Series 2016-C3, Class AS |
||||||||
3.366% due 11/15/2049(2)(3) |
1,000,000 | 894,568 | ||||||
Commercial Mortgage Trust |
||||||||
Series 2014-CR18, Class AM |
||||||||
4.103% due 7/15/2047 |
1,455,000 | 1,413,614 | ||||||
Freddie Mac STACR REMIC Trust |
||||||||
Series 2021-DNA7, Class M2 |
||||||||
7.115% due 11/25/2041(1)(2)(3) |
1,100,000 | 1,075,775 | ||||||
Series 2021-HQA4, Class M1 |
||||||||
6.265% due 12/25/2041(1)(2)(3) |
660,611 | 646,112 | ||||||
Series 2022-DNA1, Class M1A |
||||||||
6.315% due 1/25/2042(1)(2)(3) |
587,067 | 581,533 | ||||||
Series 2022-HQA3, Class M1A |
||||||||
7.615% due 8/25/2042(1)(2)(3) |
1,246,144 | 1,262,499 | ||||||
HarborView Mortgage Loan Trust |
||||||||
Series 2004-5, Class B1 |
||||||||
4.315% due 6/19/2034(2)(3) |
1,529,306 | 1,334,320 | ||||||
Home Equity Asset Trust |
||||||||
Series 2004-8, Class M5 |
||||||||
7.034% due 3/25/2035(2)(3) |
578,046 | 511,918 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MULTI-SECTOR BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
NonAgency MortgageBacked Securities (continued) |
||||||||
Jackson Park Trust |
||||||||
Series 2019-LIC, Class B |
||||||||
2.914% due 10/14/2039(1) |
$ | 640,000 | $ | 512,169 | ||||
JP Morgan Mortgage Trust |
||||||||
Series 2005-A4, Class B1 |
||||||||
4.797% due 7/25/2035(2)(3) |
1,078,382 | 1,003,882 | ||||||
MASTR Specialized Loan Trust |
||||||||
Series 2005-2, Class M4 |
||||||||
6.742% due 7/25/2035(1)(2)(3) |
901,537 | 910,725 | ||||||
Morgan Stanley Capital I Trust |
||||||||
Series 2018-H4, Class A4 |
||||||||
4.31% due 12/15/2051 |
800,000 | 736,077 | ||||||
Series 2020-L4, Class AS |
||||||||
2.88% due 2/15/2053 |
1,000,000 | 789,291 | ||||||
NYC Commercial Mortgage Trust |
||||||||
Series 2021-909, Class C |
||||||||
3.312% due 4/10/2043(1)(2)(3) |
385,000 | 250,499 | ||||||
ONE Park Mortgage Trust |
||||||||
Series 2021-PARK, Class B |
||||||||
6.397% due 3/15/2036(1)(2)(3) |
500,000 | 465,727 | ||||||
SLG Office Trust |
||||||||
Series 2021-OVA, Class A |
||||||||
2.585% due 7/15/2041(1) |
1,600,000 | 1,247,969 | ||||||
Stack Infrastructure Issuer LLC |
||||||||
Series 2021-1A, Class A2 |
||||||||
1.877% due 3/26/2046(1) |
750,000 | 664,524 | ||||||
|
|
|||||||
Total NonAgency MortgageBacked Securities |
22,870,746 | |||||||
|
|
|||||||
Senior Secured Loans 1.3% |
||||||||
Advertising 0.2% |
||||||||
Clear Channel Outdoor Holdings, Inc. |
||||||||
Term Loan B |
||||||||
9.131% (3 mo. USD Term SOFR + 3.50%) due 8/21/2026(2) |
500,000 | 484,790 | ||||||
|
|
|||||||
484,790 | ||||||||
|
|
|||||||
Airlines 0.5% |
| |||||||
American Airlines, Inc. |
||||||||
2021 Term Loan |
||||||||
10.338% (3 mo. USD Term SOFR + 4.75%) due 4/20/2028(2) |
500,000 | 514,500 | ||||||
Kestrel Bidco, Inc. |
||||||||
Term Loan B |
||||||||
8.405% (3 mo. USD Term SOFR + 3.00%) due 12/11/2026(2) |
498,692 | 487,681 | ||||||
|
|
|||||||
1,002,181 | ||||||||
|
|
|||||||
Entertainment 0.2% |
| |||||||
Ballys Corp. |
||||||||
2021 Term Loan B |
||||||||
8.838% (3 mo. USD Term SOFR + 3.25%) due 10/2/2028(2) |
498,731 | 488,038 | ||||||
|
|
|||||||
488,038 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MULTI-SECTOR BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Senior Secured Loans (continued) |
| |||||||
Lodging 0.2% |
| |||||||
Fertitta Entertainment LLC |
||||||||
2022 Term Loan B |
||||||||
9.316% (1 mo. USD Term SOFR + 4.00%) due 1/27/2029(2) |
$ | 498,734 | $ | 493,124 | ||||
|
|
|||||||
493,124 | ||||||||
|
|
|||||||
Telecommunications 0.2% |
| |||||||
Intelsat Jackson Holdings SA |
||||||||
2021 Exit Term Loan B |
||||||||
9.783% (6 mo. USD SOFR + 4.25%) due 2/1/2029(2) |
488,530 | 486,976 | ||||||
|
|
|||||||
486,976 | ||||||||
|
|
|||||||
Total Senior Secured Loans |
2,955,109 | |||||||
|
|
|||||||
U.S. Government Agencies 0.2% |
||||||||
Federal Home Loan Bank Discount Notes |
||||||||
2.719% due 10/2/2023(4) |
400,000 | 399,941 | ||||||
|
|
|||||||
Total U.S. Government Agencies |
399,941 | |||||||
|
|
|||||||
U.S. Government Securities 30.5% |
||||||||
U.S. Treasury Bonds |
||||||||
4.125% due 8/15/2053 |
11,600,000 | 10,534,250 | ||||||
4.375% due 8/15/2043 |
21,500,000 | 20,068,906 | ||||||
U.S. Treasury Notes |
||||||||
0.625% due 8/15/2030 |
3,800,000 | 2,916,500 | ||||||
3.875% due 8/15/2033 |
7,500,000 | 7,086,328 | ||||||
4.625% due 9/30/2028 |
14,000,000 | 14,008,008 | ||||||
5.00% due 9/30/2025 |
12,500,000 | 12,487,404 | ||||||
|
|
|||||||
Total U.S. Government Securities |
67,101,396 | |||||||
|
|
|||||||
Shares | Value | |||||||
Common Stocks 0.0% |
||||||||
Media 0.0% |
||||||||
Altice USA, Inc., Class A(5) |
10,940 | 35,774 | ||||||
|
|
|||||||
Total Common Stocks |
35,774 | |||||||
|
|
|||||||
ExchangeTraded Funds 1.7% |
||||||||
iShares MBS ETF |
17,100 | 1,518,480 | ||||||
Vanguard Mortgage-Backed Securities ETF |
53,100 | 2,324,718 | ||||||
|
|
|||||||
Total ExchangeTraded Funds |
3,843,198 | |||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN MULTI-SECTOR BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Repurchase Agreements 0.5% |
||||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $985,919, due 10/2/2023(6) |
$ | 985,788 | $ | 985,788 | ||||
|
|
|||||||
Total Repurchase Agreements |
985,788 | |||||||
|
|
|||||||
Total Investments 96.8% |
213,121,665 | |||||||
|
|
|||||||
Assets in excess of other liabilities 3.2% |
6,994,219 | |||||||
|
|
|||||||
Total Net Assets 100.0% |
$ | 220,115,884 | ||||||
|
|
(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 September 30, 2023, the aggregate market value of these securities amounted to $55,466,514, representing 25.2% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Funds 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 September 30, 2023. |
(3) | Variable coupon rate based on weighted average interest rate of underlying mortgages. |
(4) | Interest rate shown reflects the discount rate at time of purchase. |
(5) | Nonincomeproducing security. |
(6) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||
U.S. Treasury Note |
0.75% | 4/30/2026 | $ | 1,113,300 | $ | 1,005,593 |
Open futures contracts at September 30, 2023:
Type |
Expiration | Contracts | Position | Notional Amount |
Notional Value |
Unrealized Depreciation |
||||||||||||||||||
U.S. 2-Year Treasury Note |
December 2023 | 143 | Long | $ | 29,079,606 | $ | 28,987,664 | $ | (91,942 | ) | ||||||||||||||
U.S. 5-Year Treasury Note |
December 2023 | 155 | Long | 16,711,657 | 16,330,703 | (380,954 | ) | |||||||||||||||||
U.S. Long Bond |
December 2023 | 12 | Long | 1,444,727 | 1,365,375 | (79,352 | ) | |||||||||||||||||
U.S. Ultra 10-Year Treasury Note |
December 2023 | 23 | Long | 2,608,811 | 2,565,938 | (42,873 | ) | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||
Total |
$ | 49,844,801 | $ | 49,249,680 | $ | (595,121 | ) | |||||||||||||||||
|
|
|
|
|
|
Centrally cleared credit default swap agreements buy protection(7):
Reference Entity |
Implied Credit Spread at 9/30/2023(8) |
Notional Amount(9) | Maturity | (Pay)/Receive Fixed Rate |
Periodic Payment Frequency |
Upfront Payments |
Value | Unrealized Depreciation |
||||||||||||||||||||||||
CDX.NA.HY.S40 |
4.58 | % | USD 25,325,000 | 6/20/2028 | (5.00 | )% | Quarterly | $ | (352,324 | ) | $ | (396,940 | ) | $ | (44,616 | ) |
(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 buyer 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 entitys 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 be required to pay 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
CMT Constant Maturity Treasury
REMIC Real Estate Mortgage Investment Conduit
SOFR Secured Overnight Financing Rate
STACR Structured Agency Credit Risk
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 September 30, 2023 in valuing the Funds 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 MortgageBacked Securities |
$ | | $ | 26,891,163 | $ | | $ | 26,891,163 | ||||||||
AssetBacked Securities |
| 40,939,483 | | 40,939,483 | ||||||||||||
Corporate Bonds & Notes |
| 47,099,067 | | 47,099,067 | ||||||||||||
NonAgency MortgageBacked Securities |
| 22,870,746 | | 22,870,746 | ||||||||||||
Senior Secured Loans |
| 2,955,109 | | 2,955,109 | ||||||||||||
U.S. Government Agencies |
| 399,941 | | 399,941 | ||||||||||||
U.S. Government Securities |
| 67,101,396 | | 67,101,396 | ||||||||||||
Common Stocks |
35,774 | | | 35,774 | ||||||||||||
ExchangeTraded Funds |
3,843,198 | | | 3,843,198 | ||||||||||||
Repurchase Agreements |
| 985,788 | | 985,788 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 3,878,972 | $ | 209,242,693 | $ | | $ | 213,121,665 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Other Financial Instruments |
||||||||||||||||
Futures Contracts |
||||||||||||||||
Liabilities |
$ | (595,121 | ) | $ | | $ | | $ | (595,121 | ) | ||||||
Swap Contracts |
||||||||||||||||
Liabilities |
| (44,616 | ) | | (44,616 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | (595,121 | ) | $ | (44,616 | ) | $ | | $ | (639,737 | ) | |||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN TOTAL RETURN BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Agency MortgageBacked Securities 11.7% |
||||||||
Federal Home Loan Mortgage Corp. |
||||||||
3.00% due 3/1/2052 |
$ | 2,052,921 | $ | 1,700,721 | ||||
3.50% due 6/1/2052 |
3,718,617 | 3,196,731 | ||||||
4.00% due 10/1/2037 |
423,299 | 399,345 | ||||||
4.00% due 6/1/2052 |
693,315 | 618,008 | ||||||
4.50% due 9/1/2052 |
472,671 | 433,880 | ||||||
5.00% due 12/1/2052 |
1,233,328 | 1,163,408 | ||||||
Federal National Mortgage Association |
||||||||
2.50% due 1/1/2052 |
3,837,553 | 3,046,379 | ||||||
2.50% due 5/1/2052 |
2,627,610 | 2,085,913 | ||||||
3.00% due 7/1/2051 |
2,202,276 | 1,824,140 | ||||||
3.00% due 3/1/2052 |
3,327,860 | 2,754,517 | ||||||
3.00% due 5/1/2052 |
4,664,114 | 3,863,395 | ||||||
3.50% due 6/1/2052 |
4,287,757 | 3,689,863 | ||||||
3.50% due 10/1/2052 |
2,305,163 | 1,981,480 | ||||||
3.50% due 11/1/2052 |
2,211,097 | 1,901,062 | ||||||
4.00% due 12/1/2052 |
1,257,944 | 1,120,332 | ||||||
|
|
|||||||
Total Agency MortgageBacked Securities |
29,779,174 | |||||||
|
|
|||||||
AssetBacked Securities 21.8% |
||||||||
Allegro CLO VI Ltd. |
||||||||
Series 2017-2A, Class B |
||||||||
7.07% (3 mo. USD Term SOFR + 1.76%) due 1/17/2031(1)(2) |
1,000,000 | 984,900 | ||||||
Anchorage Capital CLO 7 Ltd. |
||||||||
Series 2015-7A, Class BR2 |
||||||||
7.377% (3 mo. USD Term SOFR + 2.01%) due 1/28/2031(1)(2) |
500,000 | 496,100 | ||||||
Anchorage Capital CLO 17 Ltd. |
||||||||
Series 2021-17A, Class A1 |
||||||||
6.74% (3 mo. USD Term SOFR + 1.43%) due 7/15/2034(1)(2) |
1,700,000 | 1,681,300 | ||||||
Ares XXXIIR CLO Ltd. |
||||||||
Series 2014-32RA, Class B |
||||||||
7.426% (3 mo. USD Term SOFR + 2.06%) due 5/15/2030(1)(2) |
1,200,000 | 1,157,040 | ||||||
Ares XXXIV CLO Ltd. |
||||||||
Series 2015-2A, Class BR2 |
||||||||
7.17% (3 mo. USD Term SOFR + 1.86%) due 4/17/2033(1)(2) |
450,000 | 441,450 | ||||||
Avis Budget Rental Car Funding AESOP LLC |
||||||||
Series 2019-3A, Class A |
||||||||
2.36% due 3/20/2026(1) |
1,380,000 | 1,313,471 | ||||||
Barings CLO Ltd. |
||||||||
Series 2020-1A, Class AR |
||||||||
6.72% (3 mo. USD Term SOFR + 1.41%) due 10/15/2036(1)(2) |
1,550,000 | 1,539,815 | ||||||
Battalion CLO XX Ltd. |
||||||||
Series 2021-20A, Class D |
||||||||
8.67% (3 mo. USD Term SOFR + 3.36%) due 7/15/2034(1)(2) |
2,000,000 | 1,790,416 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN TOTAL RETURN BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
AssetBacked Securities (continued) |
||||||||
BlueMountain CLO Ltd. |
||||||||
Series 2014-2A, Class BR2 |
||||||||
7.338% (3 mo. USD Term SOFR + 2.01%) due 10/20/2030(1)(2) |
$ | 800,000 | $ | 792,320 | ||||
BMW Vehicle Lease Trust |
||||||||
Series 2023-1, Class A3 |
||||||||
5.16% due 11/25/2025 |
1,000,000 | 991,431 | ||||||
Carlyle U.S. CLO Ltd. |
||||||||
Series 2017-3A, Class BR |
||||||||
7.588% (3 mo. USD Term SOFR + 2.26%) due 7/20/2029(1)(2) |
3,000,000 | 2,910,000 | ||||||
CarMax Auto Owner Trust |
||||||||
Series 2020-4, Class B |
||||||||
0.85% due 6/15/2026 |
1,400,000 | 1,313,094 | ||||||
Cathedral Lake VI Ltd. |
||||||||
Series 2021-6A, Class AN |
||||||||
6.863% (3 mo. USD Term SOFR + 1.51%) due 4/25/2034(1)(2) |
1,200,000 | 1,191,373 | ||||||
CIFC Funding Ltd. |
||||||||
Series 2013-4A, Class BRR |
||||||||
7.219% (3 mo. USD Term SOFR + 1.86%) due 4/27/2031(1)(2) |
800,000 | 789,840 | ||||||
DB Master Finance LLC |
||||||||
Series 2021-1A, Class A2II |
||||||||
2.493% due 11/20/2051(1) |
1,031,625 | 859,246 | ||||||
Elmwood CLO IX Ltd. |
||||||||
Series 2021-2A, Class C |
||||||||
7.488% (3 mo. USD Term SOFR + 2.16%) due 7/20/2034(1)(2) |
3,000,000 | 2,902,200 | ||||||
Ford Credit Auto Owner Trust |
||||||||
Series 2020-1, Class A |
||||||||
2.04% due 8/15/2031(1) |
1,100,000 | 1,042,615 | ||||||
Ford Credit Floorplan Master Owner Trust A |
||||||||
Series 2020-2, Class A |
||||||||
1.06% due 9/15/2027 |
1,500,000 | 1,366,782 | ||||||
GM Financial Automobile Leasing Trust |
||||||||
Series 2023-1, Class A3 |
||||||||
5.16% due 4/20/2026 |
1,140,000 | 1,128,421 | ||||||
GM Financial Consumer Automobile Receivables Trust |
||||||||
Series 2020-4, Class A3 |
||||||||
0.38% due 8/18/2025 |
361,566 | 356,331 | ||||||
Gulf Stream Meridian 6 Ltd. |
||||||||
Series 2021-6A, Class A1 |
||||||||
6.76% (3 mo. USD Term SOFR + 1.45%) due 1/15/2037(1)(2) |
1,150,000 | 1,142,410 | ||||||
ICG U.S. CLO Ltd. |
||||||||
Series 2018-2A, Class B |
||||||||
7.357% (3 mo. USD Term SOFR + 2.01%) due 7/22/2031(1)(2) |
1,300,000 | 1,282,390 | ||||||
Series 2022-1A, Class A1 |
||||||||
6.866% (3 mo. USD Term SOFR + 1.54%) due 7/20/2035(1)(2) |
1,500,000 | 1,491,300 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN TOTAL RETURN BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
AssetBacked Securities (continued) |
||||||||
KKR CLO 38 Ltd. |
||||||||
Series 38A, Class A1 |
||||||||
6.628% (3 mo. USD Term SOFR + 1.32%) due 4/15/2033(1)(2) |
$ | 1,725,000 | $ | 1,706,486 | ||||
Madison Park Funding XXIII Ltd. |
||||||||
Series 2017-23A, Class BR |
||||||||
7.169% (3 mo. USD Term SOFR + 1.81%) due 7/27/2031(1)(2) |
1,300,000 | 1,285,570 | ||||||
Master Credit Card Trust |
||||||||
Series 2021-1A, Class A |
||||||||
0.53% due 11/21/2025(1) |
1,590,000 | 1,535,659 | ||||||
Neuberger Berman CLO XVI-S Ltd. |
||||||||
Series 2017-16SA, Class BR |
||||||||
6.97% (3 mo. USD Term SOFR + 1.66%) due 4/15/2034(1)(2) |
1,000,000 | 966,100 | ||||||
Neuberger Berman CLO XVII Ltd. |
||||||||
Series 2014-17A, Class BR2 |
||||||||
7.107% (3 mo. USD Term SOFR + 1.76%) due 4/22/2029(1)(2) |
1,100,000 | 1,088,340 | ||||||
Neuberger Berman Loan Advisers CLO 40 Ltd. |
||||||||
Series 2021-40A, Class A |
||||||||
6.63% (3 mo. USD Term SOFR + 1.32%) due 4/16/2033(1)(2) |
1,500,000 | 1,489,800 | ||||||
Nissan Auto Lease Trust |
||||||||
Series 2023-A, Class A4 |
||||||||
4.80% due 7/15/2027 |
550,000 | 541,532 | ||||||
Octagon Investment Partners 50 Ltd. |
||||||||
Series 2020-4A, Class DR |
||||||||
8.72% (3 mo. USD Term SOFR + 3.41%) due 1/15/2035(1)(2) |
1,100,000 | 995,500 | ||||||
Octagon Loan Funding Ltd. |
||||||||
Series 2014-1A, Class CRR |
||||||||
7.841% (3 mo. USD Term SOFR + 2.46%) due 11/18/2031(1)(2) |
3,200,000 | 3,101,760 | ||||||
OHA Credit Funding 3 Ltd. |
||||||||
Series 2019-3A, Class CR |
||||||||
7.538% (3 mo. USD Term SOFR + 2.21%) due 7/2/2035(1)(2) |
3,000,000 | 2,939,100 | ||||||
Oscar U.S. Funding XIV LLC |
||||||||
Series 2022-1A, Class A2 |
||||||||
1.60% due 3/10/2025(1) |
276,683 | 274,937 | ||||||
Oscar U.S. Funding XV LLC |
||||||||
Series 2023-1A, Class A3 |
||||||||
5.81% due 12/10/2027(1) |
800,000 | 794,784 | ||||||
Riserva CLO Ltd. |
||||||||
Series 2016-3A, Class CRR |
||||||||
7.372% (3 mo. USD Term SOFR + 2.06%) due 1/18/2034(1)(2) |
3,000,000 | 2,863,200 | ||||||
Synchrony Card Funding LLC |
||||||||
Series 2022-A1, Class A |
||||||||
3.37% due 4/15/2028 |
1,190,000 | 1,146,311 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN TOTAL RETURN BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
AssetBacked Securities (continued) |
||||||||
TCW CLO Ltd. |
||||||||
Series 2021-1A, Class A |
||||||||
6.758% (3 mo. USD Term SOFR + 1.43%) due 3/18/2034(1)(2) |
$ | 1,650,000 | $ | 1,629,210 | ||||
TIAA CLO IV Ltd. |
||||||||
Series 2018-1A, Class A2 |
||||||||
7.288% (3 mo. USD Term SOFR + 1.96%) due 1/20/2032(1)(2) |
1,720,000 | 1,695,920 | ||||||
Trinitas CLO XVI Ltd. |
||||||||
Series 2021-16A, Class A1 |
||||||||
6.768% (3 mo. USD Term SOFR + 1.44%) due 7/20/2034(1)(2) |
800,000 | 788,480 | ||||||
Voya CLO Ltd. |
||||||||
Series 2016-3A, Class A3R |
||||||||
7.322% (3 mo. USD Term SOFR + 2.01%) due 10/18/2031(1)(2) |
955,000 | 943,540 | ||||||
World Omni Auto Receivables Trust |
||||||||
Series 2022-C, Class A2 |
||||||||
3.73% due 3/16/2026 |
927,795 | 920,122 | ||||||
|
|
|||||||
Total AssetBacked Securities |
55,670,596 | |||||||
|
|
|||||||
Corporate Bonds & Notes 20.8% |
||||||||
Aerospace & Defense 0.3% |
||||||||
Lockheed Martin Corp. |
||||||||
4.75% due 2/15/2034 |
600,000 | 568,134 | ||||||
5.20% due 2/15/2055 |
300,000 | 277,503 | ||||||
|
|
|||||||
845,637 | ||||||||
|
|
|||||||
Agriculture 0.2% |
||||||||
BAT Capital Corp. |
||||||||
6.343% due 8/2/2030 |
600,000 | 590,928 | ||||||
|
|
|||||||
590,928 | ||||||||
|
|
|||||||
Beverages 0.6% |
||||||||
Anheuser-Busch InBev Worldwide, Inc. |
||||||||
3.50% due 6/1/2030 |
1,200,000 | 1,068,372 | ||||||
5.55% due 1/23/2049 |
400,000 | 384,132 | ||||||
|
|
|||||||
1,452,504 | ||||||||
|
|
|||||||
Biotechnology 0.1% |
||||||||
Gilead Sciences, Inc. |
||||||||
5.25% due 10/15/2033 |
350,000 | 341,870 | ||||||
|
|
|||||||
341,870 | ||||||||
|
|
|||||||
Chemicals 0.2% |
||||||||
Nutrien Ltd. |
||||||||
2.95% due 5/13/2030 |
500,000 | 417,675 | ||||||
|
|
|||||||
417,675 | ||||||||
|
|
|||||||
Commercial Banks 5.2% |
||||||||
Bank of America Corp. |
||||||||
4.271% (4.271% fixed rate until 7/23/2028; 3 mo. USD Term SOFR + 1.57% thereafter) due 7/23/2029(2) |
3,400,000 | 3,131,944 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN TOTAL RETURN BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Commercial Banks (continued) |
||||||||
Barclays PLC |
||||||||
2.645% (2.645% fixed rate until 6/24/2030; 1 yr. CMT + 1.90% thereafter) due 6/24/2031(2) |
$ | 400,000 | $ | 309,044 | ||||
4.972% (4.972% fixed rate until 5/16/2028; SOFR + 2.25% thereafter) due 5/16/2029(2) |
500,000 | 467,315 | ||||||
BNP Paribas SA |
||||||||
2.159% (2.159% fixed rate until 9/15/2028; SOFR + 1.22% thereafter) due 9/15/2029(1)(2) |
800,000 | 659,216 | ||||||
Deutsche Bank AG |
||||||||
2.311% (2.311% fixed rate until 11/16/2026; SOFR + 1.22% thereafter) due 11/16/2027(2) |
2,200,000 | 1,916,046 | ||||||
Discover Bank |
||||||||
5.974% (5 yr. USD Swap + 1.73%) due 8/9/2028(2) |
400,000 | 365,568 | ||||||
Fifth Third Bank NA |
||||||||
2.25% due 2/1/2027 |
1,800,000 | 1,576,188 | ||||||
Huntington Bancshares, Inc. |
||||||||
6.208% (6.208% fixed rate until 8/21/2028; SOFR + 2.02% thereafter) due 8/21/2029(2) |
500,000 | 489,540 | ||||||
Huntington National Bank |
||||||||
4.552% (4.552% fixed rate until 5/17/2027; SOFR + 1.65% thereafter) due 5/17/2028(2) |
700,000 | 653,884 | ||||||
JPMorgan Chase & Co. |
||||||||
1.578% (1.578% fixed rate until 4/22/2026; SOFR + 0.89% thereafter) due 4/22/2027(2) |
1,100,000 | 981,178 | ||||||
Morgan Stanley |
||||||||
5.123% (5.123% fixed rate until 2/1/2028; SOFR + 1.73% thereafter) due 2/1/2029(2) |
1,200,000 | 1,156,128 | ||||||
5.424% (5.424% fixed rate until 7/21/2033; SOFR + 1.88% thereafter) due 7/21/2034(2) |
300,000 | 283,407 | ||||||
NatWest Group PLC |
||||||||
5.808% (5.808% fixed rate until 9/13/2028; 1 yr. CMT + 1.95% thereafter) due 9/13/2029(2) |
1,400,000 | 1,357,930 | ||||||
|
|
|||||||
13,347,388 | ||||||||
|
|
|||||||
Commercial Services 0.2% |
||||||||
S&P Global, Inc. |
||||||||
5.25% due 9/15/2033(1) |
400,000 | 390,056 | ||||||
|
|
|||||||
390,056 | ||||||||
|
|
|||||||
Computers 0.5% |
||||||||
Apple, Inc. |
||||||||
2.65% due 2/8/2051 |
100,000 | 60,670 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN TOTAL RETURN BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Computers (continued) |
||||||||
3.25% due 8/8/2029 |
$ | 1,000,000 | $ | 912,180 | ||||
3.35% due 8/8/2032 |
400,000 | 352,448 | ||||||
|
|
|||||||
1,325,298 | ||||||||
|
|
|||||||
Diversified Financial Services 1.2% |
||||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust |
||||||||
3.00% due 10/29/2028 |
1,500,000 | 1,284,240 | ||||||
Air Lease Corp. |
||||||||
5.30% due 2/1/2028 |
600,000 | 579,954 | ||||||
Charles Schwab Corp. |
||||||||
6.136% (6.136% fixed rate until 8/24/2033; SOFR + 2.01% thereafter) due 8/24/2034(2) |
300,000 | 291,216 | ||||||
Jefferies Financial Group, Inc. |
||||||||
5.875% due 7/21/2028 |
500,000 | 489,195 | ||||||
Mastercard, Inc. |
||||||||
4.85% due 3/9/2033 |
400,000 | 385,224 | ||||||
|
|
|||||||
3,029,829 | ||||||||
|
|
|||||||
Electric 1.7% |
||||||||
Alabama Power Co. |
||||||||
3.94% due 9/1/2032 |
550,000 | 484,467 | ||||||
Duke Energy Carolinas LLC |
||||||||
4.95% due 1/15/2033 |
500,000 | 475,580 | ||||||
Duke Energy Corp. |
||||||||
3.50% due 6/15/2051 |
450,000 | 290,704 | ||||||
5.00% due 8/15/2052 |
200,000 | 166,016 | ||||||
Eversource Energy |
||||||||
5.125% due 5/15/2033 |
500,000 | 465,835 | ||||||
Exelon Corp. |
||||||||
5.60% due 3/15/2053 |
200,000 | 182,068 | ||||||
PPL Electric Utilities Corp. |
||||||||
5.00% due 5/15/2033 |
200,000 | 190,608 | ||||||
5.25% due 5/15/2053 |
400,000 | 364,244 | ||||||
Public Service Electric & Gas Co. |
||||||||
4.65% due 3/15/2033 |
600,000 | 563,772 | ||||||
5.45% due 8/1/2053 |
100,000 | 95,119 | ||||||
Southern Co. |
||||||||
5.70% due 3/15/2034 |
500,000 | 491,195 | ||||||
Wisconsin Public Service Corp. |
||||||||
2.85% due 12/1/2051 |
150,000 | 87,557 | ||||||
Xcel Energy, Inc. |
||||||||
5.45% due 8/15/2033 |
500,000 | 477,485 | ||||||
|
|
|||||||
4,334,650 | ||||||||
|
|
|||||||
Electronics 0.2% |
||||||||
Honeywell International, Inc. |
||||||||
1.95% due 6/1/2030 |
500,000 | 404,150 | ||||||
|
|
|||||||
404,150 | ||||||||
|
|
|||||||
Environmental Control 0.4% |
||||||||
Waste Management, Inc. |
||||||||
4.15% due 4/15/2032 |
1,100,000 | 1,001,231 | ||||||
|
|
|||||||
1,001,231 | ||||||||
|
|
|||||||
Food 0.4% |
||||||||
Kroger Co. |
||||||||
1.70% due 1/15/2031 |
650,000 | 488,865 | ||||||
Pilgrims Pride Corp. |
||||||||
3.50% due 3/1/2032 |
700,000 | 541,877 | ||||||
|
|
|||||||
1,030,742 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN TOTAL RETURN BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Gas 0.1% |
||||||||
CenterPoint Energy Resources Corp. |
||||||||
5.40% due 3/1/2033 |
$ | 200,000 | $ | 192,516 | ||||
|
|
|||||||
192,516 | ||||||||
|
|
|||||||
Healthcare-Services 0.5% |
||||||||
Elevance Health, Inc. |
||||||||
4.75% due 2/15/2033 |
600,000 | 558,432 | ||||||
5.125% due 2/15/2053 |
100,000 | 88,712 | ||||||
UnitedHealth Group, Inc. |
||||||||
4.20% due 5/15/2032 |
600,000 | 546,762 | ||||||
5.875% due 2/15/2053 |
200,000 | 200,802 | ||||||
|
|
|||||||
1,394,708 | ||||||||
|
|
|||||||
Insurance 1.2% |
||||||||
Athene Holding Ltd. |
||||||||
3.50% due 1/15/2031 |
450,000 | 365,998 | ||||||
Hartford Financial Services Group, Inc. |
||||||||
2.80% due 8/19/2029 |
1,410,000 | 1,209,202 | ||||||
MetLife, Inc. |
||||||||
5.25% due 1/15/2054 |
300,000 | 267,339 | ||||||
5.375% due 7/15/2033 |
500,000 | 480,320 | ||||||
Progressive Corp. |
||||||||
4.95% due 6/15/2033 |
700,000 | 665,490 | ||||||
Prudential Financial, Inc. |
||||||||
3.70% due 3/13/2051 |
100,000 | 69,497 | ||||||
5.75% due 7/15/2033 |
100,000 | 100,820 | ||||||
|
|
|||||||
3,158,666 | ||||||||
|
|
|||||||
Machinery-Diversified 0.2% |
||||||||
John Deere Capital Corp. |
||||||||
Series I |
||||||||
5.15% due 9/8/2033 |
400,000 | 391,220 | ||||||
|
|
|||||||
391,220 | ||||||||
|
|
|||||||
Media 0.1% |
||||||||
Comcast Corp. |
||||||||
1.95% due 1/15/2031 |
400,000 | 312,756 | ||||||
|
|
|||||||
312,756 | ||||||||
|
|
|||||||
Miscellaneous Manufacturing 0.2% |
||||||||
Parker-Hannifin Corp. |
||||||||
4.00% due 6/14/2049 |
100,000 | 76,015 | ||||||
4.50% due 9/15/2029 |
500,000 | 472,760 | ||||||
|
|
|||||||
548,775 | ||||||||
|
|
|||||||
Oil & Gas 0.8% |
||||||||
BP Capital Markets America, Inc. |
||||||||
3.06% due 6/17/2041 |
450,000 | 310,626 | ||||||
4.812% due 2/13/2033 |
700,000 | 655,592 | ||||||
Cenovus Energy, Inc. |
||||||||
2.65% due 1/15/2032 |
300,000 | 233,151 | ||||||
Occidental Petroleum Corp. |
||||||||
7.50% due 5/1/2031 |
700,000 | 740,250 | ||||||
|
|
|||||||
1,939,619 | ||||||||
|
|
|||||||
Oil & Gas Services 0.2% |
||||||||
Schlumberger Investment SA |
||||||||
4.85% due 5/15/2033 |
600,000 | 565,884 | ||||||
|
|
|||||||
565,884 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN TOTAL RETURN BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Pharmaceuticals 1.7% |
||||||||
AbbVie, Inc. |
||||||||
3.20% due 11/21/2029 |
$ | 800,000 | $ | 705,832 | ||||
4.55% due 3/15/2035 |
600,000 | 545,766 | ||||||
CVS Health Corp. |
||||||||
5.30% due 6/1/2033 |
1,000,000 | 947,400 | ||||||
5.875% due 6/1/2053 |
500,000 | 462,850 | ||||||
Pfizer Investment Enterprises Pte. Ltd. |
||||||||
4.75% due 5/19/2033 |
1,400,000 | 1,326,640 | ||||||
5.30% due 5/19/2053 |
300,000 | 278,634 | ||||||
|
|
|||||||
4,267,122 | ||||||||
|
|
|||||||
Pipelines 0.7% |
||||||||
Cheniere Energy Partners LP |
||||||||
5.95% due 6/30/2033(1) |
900,000 | 868,095 | ||||||
Energy Transfer LP |
||||||||
3.75% due 5/15/2030 |
500,000 | 435,885 | ||||||
Western Midstream Operating LP |
||||||||
6.15% due 4/1/2033 |
600,000 | 579,096 | ||||||
|
|
|||||||
1,883,076 | ||||||||
|
|
|||||||
Real Estate Investment Trusts 0.5% |
||||||||
American Tower Corp. |
||||||||
5.65% due 3/15/2033 |
500,000 | 480,175 | ||||||
Extra Space Storage LP |
||||||||
5.50% due 7/1/2030 |
800,000 | 774,072 | ||||||
|
|
|||||||
1,254,247 | ||||||||
|
|
|||||||
Retail 0.4% |
||||||||
Lowes Cos., Inc. |
||||||||
5.15% due 7/1/2033 |
900,000 | 855,441 | ||||||
5.625% due 4/15/2053 |
100,000 | 90,897 | ||||||
|
|
|||||||
946,338 | ||||||||
|
|
|||||||
Semiconductors 0.4% |
||||||||
Intel Corp. |
||||||||
5.20% due 2/10/2033 |
600,000 | 580,740 | ||||||
Marvell Technology, Inc. |
||||||||
5.95% due 9/15/2033 |
400,000 | 393,316 | ||||||
|
|
|||||||
974,056 | ||||||||
|
|
|||||||
Software 0.9% |
||||||||
Microsoft Corp. |
||||||||
2.921% due 3/17/2052 |
800,000 | 524,896 | ||||||
3.30% due 2/6/2027 |
900,000 | 853,848 | ||||||
Oracle Corp. |
||||||||
5.55% due 2/6/2053 |
200,000 | 175,290 | ||||||
6.25% due 11/9/2032 |
600,000 | 607,062 | ||||||
6.90% due 11/9/2052 |
200,000 | 205,946 | ||||||
|
|
|||||||
2,367,042 | ||||||||
|
|
|||||||
Telecommunications 0.7% |
||||||||
AT&T, Inc. |
||||||||
3.50% due 9/15/2053 |
500,000 | 308,930 | ||||||
5.40% due 2/15/2034 |
1,100,000 | 1,028,885 | ||||||
T-Mobile USA, Inc. |
||||||||
2.70% due 3/15/2032 |
500,000 | 390,040 | ||||||
|
|
|||||||
1,727,855 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN TOTAL RETURN BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Toys, Games & Hobbies 0.5% |
||||||||
Mattel, Inc. |
||||||||
3.75% due 4/1/2029(1) |
$ | 1,600,000 | $ | 1,392,400 | ||||
|
|
|||||||
1,392,400 | ||||||||
|
|
|||||||
Transportation 0.5% |
||||||||
Union Pacific Corp. |
||||||||
3.95% due 9/10/2028 |
300,000 | 282,948 | ||||||
4.50% due 1/20/2033 |
500,000 | 464,800 | ||||||
4.95% due 5/15/2053 |
500,000 | 447,585 | ||||||
|
|
|||||||
1,195,333 | ||||||||
|
|
|||||||
Total Corporate Bonds & Notes |
53,023,571 | |||||||
|
|
|||||||
NonAgency MortgageBacked Securities 8.5% |
||||||||
BANK |
||||||||
Series 2019-BNK24, Class AS |
||||||||
3.283% due 11/15/2062(2)(3) |
1,413,000 | 1,159,663 | ||||||
Series 2022-BNK43, Class B |
||||||||
5.327% due 8/15/2055(2)(3) |
500,000 | 411,703 | ||||||
BB-UBS Trust |
||||||||
Series 2012-SHOW, Class A |
||||||||
3.43% due 11/5/2036(1) |
2,500,000 | 2,262,031 | ||||||
Citigroup Commercial Mortgage Trust |
||||||||
Series 2014-GC21, Class A5 |
||||||||
3.855% due 5/10/2047 |
1,330,000 | 1,311,937 | ||||||
Series 2016-C3, Class AS |
||||||||
3.366% due 11/15/2049(2)(3) |
1,125,000 | 1,006,389 | ||||||
Commercial Mortgage Trust |
||||||||
Series 2014-CR18, Class AM |
||||||||
4.103% due 7/15/2047 |
1,550,000 | 1,505,912 | ||||||
Freddie Mac STACR REMIC Trust |
||||||||
Series 2021-DNA7, Class M2 |
||||||||
7.115% due 11/25/2041(1)(2)(3) |
1,300,000 | 1,271,370 | ||||||
Series 2021-HQA4, Class M1 |
||||||||
6.265% due 12/25/2041(1)(2)(3) |
752,594 | 736,077 | ||||||
Series 2022-DNA1, Class M1A |
||||||||
6.315% due 1/25/2042(1)(2)(3) |
662,332 | 656,089 | ||||||
Series 2022-HQA3, Class M1A |
||||||||
7.615% due 8/25/2042(1)(2)(3) |
1,375,055 | 1,393,102 | ||||||
Grace Trust |
||||||||
Series 2020-GRCE, Class C |
||||||||
2.769% due 12/10/2040(1)(2)(3) |
1,100,000 | 812,864 | ||||||
Jackson Park Trust |
||||||||
Series 2019-LIC, Class B |
||||||||
2.914% due 10/14/2039(1) |
680,000 | 544,180 | ||||||
Life Mortgage Trust |
||||||||
Series 2021-BMR, Class C |
||||||||
6.547% due 3/15/2038(1)(2)(3) |
1,474,455 | 1,429,587 | ||||||
Morgan Stanley Capital I Trust |
||||||||
Series 2018-H4, Class A4 |
||||||||
4.31% due 12/15/2051 |
900,000 | 828,087 | ||||||
Series 2020-L4, Class AS |
||||||||
2.88% due 2/15/2053 |
750,000 | 591,968 | ||||||
NYC Commercial Mortgage Trust |
||||||||
Series 2021-909, Class C |
||||||||
3.312% due 4/10/2043(1)(2)(3) |
580,000 | 377,375 | ||||||
ONE Park Mortgage Trust |
||||||||
Series 2021-PARK, Class B |
||||||||
6.397% due 3/15/2036(1)(2)(3) |
500,000 | 465,727 | ||||||
SLG Office Trust |
||||||||
Series 2021-OVA, Class A |
||||||||
2.585% due 7/15/2041(1) |
1,800,000 | 1,403,965 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN TOTAL RETURN BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
NonAgency MortgageBacked Securities (continued) |
||||||||
Stack Infrastructure Issuer LLC |
||||||||
Series 2021-1A, Class A2 |
||||||||
1.877% due 3/26/2046(1) |
$ | 1,250,000 | $ | 1,107,539 | ||||
Wells Fargo Commercial Mortgage Trust |
||||||||
Series 2018-AUS, Class A |
||||||||
4.194% due 8/17/2036(1)(2)(3) |
2,000,000 | 1,777,134 | ||||||
Series 2021-SAVE, Class A |
||||||||
6.598% due 2/15/2040(1)(2)(3) |
744,439 | 704,463 | ||||||
|
|
|||||||
Total NonAgency MortgageBacked Securities |
21,757,162 | |||||||
|
|
|||||||
U.S. Government Agencies 0.2% |
||||||||
Federal Home Loan Bank Discount Notes |
||||||||
2.719% due 10/2/2023(4) |
500,000 | 499,926 | ||||||
|
|
|||||||
Total U.S. Government Agencies |
499,926 | |||||||
|
|
|||||||
U.S. Government Securities 32.5% |
||||||||
U.S. Treasury Bonds |
||||||||
4.125% due 8/15/2053 |
13,600,000 | 12,350,500 | ||||||
4.375% due 8/15/2043 |
25,600,000 | 23,896,000 | ||||||
U.S. Treasury Notes |
||||||||
3.875% due 8/15/2033 |
8,000,000 | 7,558,750 | ||||||
4.625% due 9/30/2028 |
22,500,000 | 22,512,870 | ||||||
5.00% due 9/30/2025 |
16,500,000 | 16,483,373 | ||||||
|
|
|||||||
Total U.S. Government Securities |
82,801,493 | |||||||
|
|
|||||||
Shares | Value | |||||||
ExchangeTraded Funds 1.7% |
||||||||
iShares MBS ETF |
20,500 | 1,820,400 | ||||||
Vanguard Mortgage-Backed Securities ETF |
60,000 | 2,626,800 | ||||||
|
|
|||||||
Total ExchangeTraded Funds |
4,447,200 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
Repurchase Agreements 0.4% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $973,358, due 10/2/2023(5) |
$ | 973,228 | 973,228 | |||||
|
|
|||||||
Total Repurchase Agreements |
|
973,228 | ||||||
|
|
|||||||
Total Investments 97.6% |
|
248,952,350 | ||||||
|
|
|||||||
Assets in excess of other liabilities 2.4% |
|
6,242,722 | ||||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 255,195,072 | |||||
|
|
(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 September 30, 2023, the aggregate market value of these securities amounted to $66,157,842, representing 25.9% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Funds 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 September 30, 2023. |
(3) | Variable coupon rate based on weighted average interest rate of underlying mortgages. |
(4) | Interest rate shown reflects the discount rate at time of purchase. |
(5) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 1,099,100 | $ | 992,767 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN TOTAL RETURN BOND VIP FUND
Open futures contracts at September 30, 2023:
Type |
Expiration | Contracts | Position | Notional Amount |
Notional Value |
Unrealized Depreciation |
||||||||||||||||
U.S. 2-Year Treasury Note |
December 2023 | 167 | Long | $ | 33,974,147 | $ | 33,852,727 | $ | (121,420 | ) | ||||||||||||
U.S. 5-Year Treasury Note |
December 2023 | 180 | Long | 19,361,358 | 18,964,687 | (396,671 | ) | |||||||||||||||
U.S. Ultra 10-Year Treasury Note |
December 2023 | 36 | Long | 4,123,057 | 4,016,250 | (106,807 | ) | |||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Total |
|
$ | 57,458,562 | $ | 56,833,664 | $ | (624,898 | ) | ||||||||||||||
|
|
|
|
|
|
Centrally cleared credit default swap agreements buy protection(6):
Reference Entity |
Implied Credit Spread at 9/30/2023(7) |
Notional Amount(8) | Maturity | (Pay)/Receive Fixed Rate |
Periodic Payment Frequency |
Upfront Payments |
Value | Unrealized Depreciation |
||||||||||||||||||||||||||||
CDX.NA.HY.S40 |
4.58 | % | USD | 20,200,000 | 6/20/2028 | (5.00 | )% | Quarterly | $ | (227,119 | ) | $ | (316,612 | ) | $ | (89,493 | ) |
(6) | 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 buyer 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. |
(7) | 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 entitys credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the swap agreement. |
(8) | The notional amount represents the maximum potential amount the Fund could be required to pay 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
CMT Constant Maturity Treasury
REMIC Real Estate Mortgage Investment Conduit
SOFR Secured Overnight Financing Rate
STACR Structured Agency Credit Risk
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 September 30, 2023 in valuing the Funds 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 MortgageBacked Securities |
$ | | $ | 29,779,174 | $ | | $ | 29,779,174 | ||||||||
AssetBacked Securities |
| 55,670,596 | | 55,670,596 | ||||||||||||
Corporate Bonds & Notes |
| 53,023,571 | | 53,023,571 | ||||||||||||
NonAgency MortgageBacked Securities |
| 21,757,162 | | 21,757,162 | ||||||||||||
U.S. Government Agencies |
| 499,926 | | 499,926 | ||||||||||||
U.S. Government Securities |
| 82,801,493 | | 82,801,493 | ||||||||||||
ExchangeTraded Funds |
4,447,200 | | | 4,447,200 | ||||||||||||
Repurchase Agreements |
| 973,228 | | 973,228 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 4,447,200 | $ | 244,505,150 | $ | | $ | 248,952,350 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Other Financial Instruments |
| |||||||||||||||
Futures Contracts |
|
|||||||||||||||
Liabilities |
$ | (624,898 | ) | $ | | $ | | $ | (624,898 | ) | ||||||
Swap Contracts |
|
|||||||||||||||
Liabilities |
| (89,493 | ) | | (89,493 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | (624,898 | ) | $ | (89,493 | ) | $ | | $ | (714,391 | ) | |||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN U.S. GOVERNMENT SECURITIES VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Agency MortgageBacked Securities 37.6% |
| |||||||
Fannie Mae ACES |
| |||||||
Series 2019-M4, Class A2 |
||||||||
3.61% due 2/25/2031 |
$ | 7,458,099 | $ | 6,714,751 | ||||
Series 2021-M4, Class A2 |
||||||||
1.513% due 2/25/2031(1)(2) |
1,000,000 | 771,566 | ||||||
Federal Home Loan Mortgage Corp. |
||||||||
2.50% due 9/1/2037 |
1,742,824 | 1,535,476 | ||||||
3.00% due 4/1/2052 |
2,862,501 | 2,371,409 | ||||||
3.50% due 11/1/2052 |
3,160,403 | 2,717,749 | ||||||
4.00% due 10/1/2052 |
2,768,980 | 2,466,498 | ||||||
4.50% due 2/1/2053 |
1,587,486 | 1,457,204 | ||||||
5.00% due 12/1/2052 |
3,794,856 | 3,579,717 | ||||||
5.50% due 6/1/2053 |
1,575,551 | 1,522,868 | ||||||
6.00% due 8/1/2053 |
1,598,051 | 1,578,043 | ||||||
Federal National Mortgage Association |
||||||||
2.00% due 6/1/2037 |
1,954,394 | 1,674,667 | ||||||
2.00% due 9/1/2037 |
1,854,845 | 1,589,367 | ||||||
2.50% due 10/1/2037 |
22,750 | 20,043 | ||||||
2.50% due 11/1/2037 |
880,316 | 775,583 | ||||||
2.50% due 1/1/2052 |
2,034,459 | 1,615,022 | ||||||
2.50% due 3/1/2052 |
1,958,925 | 1,555,082 | ||||||
2.50% due 4/1/2052 |
1,916,952 | 1,524,356 | ||||||
2.50% due 5/1/2052 |
1,928,382 | 1,533,446 | ||||||
2.50% due 7/1/2052 |
7,528,209 | 5,976,226 | ||||||
3.00% due 11/1/2037 |
1,114,947 | 1,007,889 | ||||||
3.00% due 7/1/2051 |
1,585,639 | 1,313,381 | ||||||
3.00% due 3/1/2052 |
754,719 | 625,239 | ||||||
3.00% due 4/1/2052 |
963,895 | 798,137 | ||||||
3.00% due 11/1/2052 |
4,382,858 | 3,627,875 | ||||||
3.50% due 10/1/2052 |
1,728,872 | 1,486,110 | ||||||
3.50% due 11/1/2052 |
3,364,712 | 2,892,921 | ||||||
4.50% due 9/1/2052 |
1,053,617 | 967,329 | ||||||
4.50% due 2/1/2053 |
1,587,068 | 1,456,820 | ||||||
Freddie Mac Multifamily Structured Pass-Through Certificates |
| |||||||
Series K048, Class A2 |
||||||||
3.284% due 6/25/2025(1)(2) |
2,045,000 | 1,972,863 | ||||||
Series K078, Class A2 |
||||||||
3.854% due 6/25/2028 |
600,000 | 567,727 | ||||||
Series K082, Class A2 |
||||||||
3.92% due 9/25/2028(1)(2) |
3,385,000 | 3,203,477 | ||||||
Series K102, Class A2 |
||||||||
2.537% due 10/25/2029 |
2,000,000 | 1,728,213 | ||||||
Series K104, Class A2 |
||||||||
2.253% due 1/25/2030 |
1,950,000 | 1,648,040 | ||||||
Series K123, Class A2 |
||||||||
1.621% due 12/25/2030 |
465,000 | 365,636 | ||||||
Series K124, Class A2 |
||||||||
1.658% due 12/25/2030 |
4,200,000 | 3,303,701 | ||||||
Series K730, Class A2 |
||||||||
3.59% due 1/25/2025(1)(2) |
3,701,679 | 3,607,673 | ||||||
|
|
|||||||
Total Agency MortgageBacked Securities |
|
71,552,104 | ||||||
|
|
|||||||
AssetBacked Securities 7.3% |
| |||||||
AmeriCredit Automobile Receivables Trust |
| |||||||
Series 2019-2, Class C |
||||||||
2.74% due 4/18/2025 |
81,335 | 81,214 | ||||||
Series 2021-1, Class B |
||||||||
0.68% due 10/19/2026 |
1,270,000 | 1,241,574 | ||||||
Barings CLO Ltd. |
||||||||
Series 2020-1A, Class AR |
||||||||
6.72% (3 mo. USD Term SOFR + 1.41%) due 10/15/2036(2)(3) |
1,100,000 | 1,092,772 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN U.S. GOVERNMENT SECURITIES VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
AssetBacked Securities (continued) |
||||||||
BlueMountain CLO Ltd. |
||||||||
Series 2014-2A, Class BR2 |
||||||||
7.338% (3 mo. USD Term SOFR + 2.01%) due 10/20/2030(2)(3) |
$ | 600,000 | $ | 594,240 | ||||
BMW Vehicle Lease Trust |
||||||||
Series 2023-1, Class A3 |
||||||||
5.16% due 11/25/2025 |
1,000,000 | 991,431 | ||||||
Cathedral Lake VI Ltd. |
||||||||
Series 2021-6A, Class AN |
||||||||
6.863% (3 mo. USD Term SOFR + 1.51%) due 4/25/2034(2)(3) |
1,200,000 | 1,191,373 | ||||||
Ford Credit Auto Lease Trust |
||||||||
Series 2021-B, Class A3 |
||||||||
0.37% due 10/15/2024 |
62,568 | 62,451 | ||||||
GM Financial Automobile Leasing Trust |
||||||||
Series 2023-1, Class A3 |
||||||||
5.16% due 4/20/2026 |
810,000 | 801,773 | ||||||
Gulf Stream Meridian 6 Ltd. |
||||||||
Series 2021-6A, Class A1 |
||||||||
6.76% (3 mo. USD Term SOFR + 1.45%) due 1/15/2037(2)(3) |
1,000,000 | 993,400 | ||||||
Honda Auto Receivables Owner Trust |
||||||||
Series 2021-2, Class A3 |
||||||||
0.33% due 8/15/2025 |
874,343 | 853,147 | ||||||
KKR CLO 38 Ltd. |
||||||||
Series 38A, Class A1 |
||||||||
6.628% (3 mo. USD Term SOFR + 1.32%) due 4/15/2033(2)(3) |
1,250,000 | 1,236,584 | ||||||
NextGear Floorplan Master Owner Trust |
||||||||
Series 2022-1A, Class A2 |
||||||||
2.80% due 3/15/2027(3) |
1,750,000 | 1,669,434 | ||||||
Oscar U.S. Funding XV LLC |
||||||||
Series 2023-1A, Class A3 |
||||||||
5.81% due 12/10/2027(3) |
600,000 | 596,088 | ||||||
Santander Retail Auto Lease Trust |
||||||||
Series 2021-C, Class A3 |
||||||||
0.50% due 3/20/2025(3) |
263,970 | 262,563 | ||||||
Voya CLO Ltd. |
||||||||
Series 2016-3A, Class A3R |
||||||||
7.322% (3 mo. USD Term SOFR + 2.01%) due 10/18/2031(2)(3) |
925,000 | 913,900 | ||||||
World Omni Auto Receivables Trust |
||||||||
Series 2023-A, Class A2A |
||||||||
5.18% due 7/15/2026 |
1,365,377 | 1,359,234 | ||||||
|
|
|||||||
Total AssetBacked Securities |
13,941,178 | |||||||
|
|
|||||||
NonAgency MortgageBacked Securities 4.8% |
||||||||
BB-UBS Trust |
||||||||
Series 2012-SHOW, Class A |
||||||||
3.43% due 11/5/2036(3) |
1,000,000 | 904,812 | ||||||
Citigroup Commercial Mortgage Trust |
||||||||
Series 2014-GC21, Class A5 |
||||||||
3.855% due 5/10/2047 |
1,700,000 | 1,676,912 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN U.S. GOVERNMENT SECURITIES VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
NonAgency MortgageBacked Securities (continued) |
||||||||
Series 2019-PRM, Class B |
||||||||
3.644% due 5/10/2036(3) |
$ | 1,309,824 | $ | 1,303,180 | ||||
Commercial Mortgage Trust |
||||||||
Series 2014-UBS3, Class A4 |
||||||||
3.819% due 6/10/2047 |
1,550,000 | 1,521,043 | ||||||
Series 2015-CR23, Class A4 |
||||||||
3.497% due 5/10/2048 |
2,500,000 | 2,394,013 | ||||||
Hudson Yards Mortgage Trust |
||||||||
Series 2016-10HY, Class A |
||||||||
2.835% due 8/10/2038(3) |
600,000 | 542,434 | ||||||
ONE Park Mortgage Trust |
||||||||
Series 2021-PARK, Class A |
||||||||
6.147% due 3/15/2036(1)(2)(3) |
500,000 | 474,014 | ||||||
Wells Fargo Commercial Mortgage Trust |
||||||||
Series 2021-SAVE, Class A |
||||||||
6.598% due 2/15/2040(1)(2)(3) |
400,852 | 379,326 | ||||||
|
|
|||||||
Total NonAgency MortgageBacked Securities |
9,195,734 | |||||||
|
|
|||||||
U.S. Government Agencies 0.5% |
||||||||
Federal Home Loan Bank Discount Notes |
||||||||
2.719% due 10/2/2023(4) |
1,000,000 | 999,853 | ||||||
|
|
|||||||
Total U.S. Government Agencies |
999,853 | |||||||
|
|
|||||||
U.S. Government Securities 41.9% |
||||||||
U.S. Treasury Bonds |
||||||||
4.375% due 8/15/2043 |
2,600,000 | 2,426,938 | ||||||
U.S. Treasury Inflation-Indexed Notes |
||||||||
0.125% due 4/15/2027 |
552,131 | 506,903 | ||||||
U.S. Treasury Notes |
||||||||
3.875% due 8/15/2033 |
8,300,000 | 7,842,203 | ||||||
4.625% due 9/30/2028 |
34,500,000 | 34,519,734 | ||||||
5.00% due 9/30/2025 |
34,500,000 | 34,465,234 | ||||||
|
|
|||||||
Total U.S. Government Securities |
79,761,012 | |||||||
|
|
|||||||
Shares | Value | |||||||
ExchangeTraded Funds 6.6% |
||||||||
iShares MBS ETF |
40,000 | 3,552,000 | ||||||
Vanguard Mortgage-Backed Securities ETF |
203,100 | 8,891,718 | ||||||
|
|
|||||||
Total ExchangeTraded Funds |
12,443,718 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
Repurchase Agreements 0.5% |
||||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $992,908, due 10/2/2023(5) |
$ | 992,776 | 992,776 | |||||
|
|
|||||||
Total Repurchase Agreements |
992,776 | |||||||
|
|
|||||||
Total Investments 99.2% |
188,886,375 | |||||||
|
|
|||||||
Assets in excess of other liabilities 0.8% |
1,506,335 | |||||||
|
|
|||||||
Total Net Assets 100.0% |
$ | 190,392,710 | ||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN U.S. GOVERNMENT SECURITIES VIP FUND
(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 September 30, 2023. |
(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 September 30, 2023, the aggregate market value of these securities amounted to $12,154,120, representing 6.4% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Funds liquidity procedures approved by the Board of Trustees. |
(4) | Interest rate shown reflects the discount rate at time of purchase. |
(5) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 1,121,100 | $ | 1,012,638 |
Open futures contracts at September 30, 2023:
Type |
Expiration | Contracts | Position | Notional Amount | Notional Value | Unrealized Depreciation |
||||||||||||||||||
U.S. 2-Year Treasury Note |
December 2023 | 64 | Long | $ | 13,154,246 | $ | 12,973,500 | $ | (180,746 | ) | ||||||||||||||
U.S. 5-Year Treasury Note |
December 2023 | 5 | Long | 531,852 | 526,797 | (5,055 | ) | |||||||||||||||||
U.S. Ultra 10-Year Treasury Note |
December 2023 | 47 | Long | 5,395,687 | 5,243,438 | (152,249 | ) | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||
Total |
$ | 19,081,785 | $ | 18,743,735 | $ | (338,050 | ) | |||||||||||||||||
|
|
|
|
|
|
Centrally cleared credit default swap agreements buy protection(6):
Reference Entity |
Implied Credit Spread at 9/30/2023(7) |
Notional Amount(8) | Maturity | (Pay)/Receive Fixed Rate |
Periodic Payment Frequency |
Upfront Payments |
Value | Unrealized Depreciation |
||||||||||||||||||||||||
CDX.NA.IG.S40 |
0.68 | % | USD 20,400,000 | 6/20/2028 | (1.00 | )% | Quarterly | $ | (226,500 | ) | $ | (269,807 | ) | $ | (43,307 | ) |
(6) | 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. |
(7) | 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 entitys credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the swap agreement. |
(8) | The notional amount represents the maximum potential amount the Fund could be required to pay 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 Investment Grade Index. |
Legend:
ACES Alternative Credit Enhancement Securities
CLO Collateralized Loan Obligation
SOFR Secured Overnight Financing Rate
USD United States Dollar
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 September 30, 2023 in valuing the Funds 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 MortgageBacked Securities |
$ | | $ | 71,552,104 | $ | | $ | 71,552,104 | ||||||||
AssetBacked Securities |
| 13,941,178 | | 13,941,178 | ||||||||||||
NonAgency MortgageBacked Securities |
| 9,195,734 | | 9,195,734 | ||||||||||||
U.S. Government Agencies |
| 999,853 | | 999,853 | ||||||||||||
U.S. Government Securities |
| 79,761,012 | | 79,761,012 | ||||||||||||
ExchangeTraded Funds |
12,443,718 | | | 12,443,718 | ||||||||||||
Repurchase Agreements |
| 992,776 | | 992,776 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 12,443,718 | $ | 176,442,657 | $ | | $ | 188,886,375 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Other Financial Instruments |
| |||||||||||||||
Futures Contracts |
|
|||||||||||||||
Liabilities |
$ | (338,050 | ) | $ | | $ | | $ | (338,050 | ) | ||||||
Swap Contracts |
|
|||||||||||||||
Liabilities |
| (43,307 | ) | | (43,307 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | (338,050 | ) | $ | (43,307 | ) | $ | | $ | (381,357 | ) | |||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN ALL CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 99.8% |
| |||||||
Aerospace & Defense 1.1% |
| |||||||
Boeing Co.(1) |
3,980 | $ | 762,886 | |||||
General Dynamics Corp. |
2,301 | 508,452 | ||||||
Howmet Aerospace, Inc. |
7,932 | 366,855 | ||||||
RTX Corp. |
2,698 | 194,175 | ||||||
|
|
|||||||
1,832,368 | ||||||||
|
|
|||||||
Automobile Components 0.3% |
| |||||||
Aptiv PLC(1) |
4,556 | 449,176 | ||||||
|
|
|||||||
449,176 | ||||||||
|
|
|||||||
Banks 3.3% |
| |||||||
First Interstate BancSystem, Inc., Class A |
7,091 | 176,850 | ||||||
JPMorgan Chase & Co. |
17,956 | 2,603,979 | ||||||
M&T Bank Corp. |
4,134 | 522,744 | ||||||
PNC Financial Services Group, Inc. |
5,922 | 727,044 | ||||||
Regions Financial Corp. |
24,093 | 414,400 | ||||||
United Community Banks, Inc. |
6,657 | 169,154 | ||||||
Wells Fargo & Co. |
15,483 | 632,635 | ||||||
|
|
|||||||
5,246,806 | ||||||||
|
|
|||||||
Beverages 1.6% |
| |||||||
Coca-Cola Co. |
4,477 | 250,622 | ||||||
Coca-Cola Europacific Partners PLC |
6,031 | 376,817 | ||||||
Constellation Brands, Inc., Class A |
1,509 | 379,257 | ||||||
PepsiCo, Inc. |
8,809 | 1,492,597 | ||||||
|
|
|||||||
2,499,293 | ||||||||
|
|
|||||||
Biotechnology 2.2% |
| |||||||
AbbVie, Inc. |
12,589 | 1,876,516 | ||||||
Vertex Pharmaceuticals, Inc.(1) |
4,909 | 1,707,056 | ||||||
|
|
|||||||
3,583,572 | ||||||||
|
|
|||||||
Broadline Retail 3.4% |
| |||||||
Amazon.com, Inc.(1) |
42,596 | 5,414,803 | ||||||
|
|
|||||||
5,414,803 | ||||||||
|
|
|||||||
Building Products 0.8% |
| |||||||
AZEK Co., Inc.(1) |
10,986 | 326,724 | ||||||
Johnson Controls International PLC |
10,173 | 541,305 | ||||||
Masco Corp. |
8,788 | 469,719 | ||||||
|
|
|||||||
1,337,748 | ||||||||
|
|
|||||||
Capital Markets 3.6% |
| |||||||
Cboe Global Markets, Inc. |
1,144 | 178,704 | ||||||
Charles Schwab Corp. |
10,633 | 583,752 | ||||||
CME Group, Inc. |
3,210 | 642,706 | ||||||
Invesco Ltd. |
35,899 | 521,253 | ||||||
KKR & Co., Inc. |
11,783 | 725,833 | ||||||
Moodys Corp. |
2,100 | 663,957 | ||||||
Morgan Stanley |
11,485 | 937,980 | ||||||
Morningstar, Inc. |
4,274 | 1,001,142 | ||||||
Northern Trust Corp. |
3,462 | 240,540 | ||||||
Raymond James Financial, Inc. |
3,216 | 322,983 | ||||||
|
|
|||||||
5,818,850 | ||||||||
|
|
|||||||
Chemicals 2.7% |
| |||||||
Air Products & Chemicals, Inc. |
2,120 | 600,808 | ||||||
Chemours Co. |
14,902 | 418,001 | ||||||
Corteva, Inc. |
7,404 | 378,789 | ||||||
DuPont de Nemours, Inc. |
7,158 | 533,915 | ||||||
Eastman Chemical Co. |
6,273 | 481,265 | ||||||
Element Solutions, Inc. |
9,181 | 180,039 | ||||||
International Flavors & Fragrances, Inc. |
3,023 | 206,078 | ||||||
Linde PLC |
1,986 | 739,487 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN ALL CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Chemicals (continued) |
| |||||||
Sherwin-Williams Co. |
1,939 | $ | 494,542 | |||||
Tronox Holdings PLC |
27,454 | 368,982 | ||||||
|
|
|||||||
4,401,906 | ||||||||
|
|
|||||||
Commercial Services & Supplies 0.5% |
| |||||||
GFL Environmental, Inc. |
26,913 | 854,757 | ||||||
|
|
|||||||
854,757 | ||||||||
|
|
|||||||
Communications Equipment 0.3% |
| |||||||
Motorola Solutions, Inc. |
1,762 | 479,687 | ||||||
|
|
|||||||
479,687 | ||||||||
|
|
|||||||
Construction & Engineering 0.3% |
| |||||||
API Group Corp.(1) |
17,931 | 464,951 | ||||||
|
|
|||||||
464,951 | ||||||||
|
|
|||||||
Construction Materials 0.6% |
| |||||||
Summit Materials, Inc., Class A(1) |
18,225 | 567,527 | ||||||
Vulcan Materials Co. |
1,604 | 324,040 | ||||||
|
|
|||||||
891,567 | ||||||||
|
|
|||||||
Consumer Finance 0.4% |
| |||||||
American Express Co. |
4,010 | 598,252 | ||||||
|
|
|||||||
598,252 | ||||||||
|
|
|||||||
Consumer Staples Distribution & Retail 1.1% |
| |||||||
Dollar General Corp. |
4,778 | 505,513 | ||||||
Dollar Tree, Inc.(1) |
4,025 | 428,461 | ||||||
Target Corp. |
7,397 | 817,886 | ||||||
|
|
|||||||
1,751,860 | ||||||||
|
|
|||||||
Containers & Packaging 0.2% |
| |||||||
Crown Holdings, Inc. |
3,155 | 279,154 | ||||||
|
|
|||||||
279,154 | ||||||||
|
|
|||||||
Distributors 0.2% |
| |||||||
LKQ Corp. |
7,499 | 371,275 | ||||||
|
|
|||||||
371,275 | ||||||||
|
|
|||||||
Diversified Consumer Services 0.1% |
| |||||||
Grand Canyon Education, Inc.(1) |
1,971 | 230,370 | ||||||
|
|
|||||||
230,370 | ||||||||
|
|
|||||||
Diversified REITs 0.4% |
| |||||||
Broadstone Net Lease, Inc. |
20,926 | 299,242 | ||||||
Empire State Realty Trust, Inc., Class A |
38,517 | 309,676 | ||||||
|
|
|||||||
608,918 | ||||||||
|
|
|||||||
Electric Utilities 2.0% |
| |||||||
Constellation Energy Corp. |
2,733 | 298,116 | ||||||
Duke Energy Corp. |
4,636 | 409,173 | ||||||
Evergy, Inc. |
2,458 | 124,621 | ||||||
Exelon Corp. |
8,202 | 309,953 | ||||||
NextEra Energy, Inc. |
11,773 | 674,475 | ||||||
PG&E Corp.(1) |
53,544 | 863,665 | ||||||
Xcel Energy, Inc. |
7,959 | 455,414 | ||||||
|
|
|||||||
3,135,417 | ||||||||
|
|
|||||||
Electrical Equipment 1.9% |
| |||||||
AMETEK, Inc. |
4,905 | 724,763 | ||||||
Eaton Corp. PLC |
6,269 | 1,337,052 | ||||||
nVent Electric PLC |
5,584 | 295,896 | ||||||
Regal Rexnord Corp. |
2,367 | 338,197 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN ALL CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Electrical Equipment (continued) |
| |||||||
Sensata Technologies Holding PLC |
8,631 | $ | 326,425 | |||||
|
|
|||||||
3,022,333 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 0.6% |
| |||||||
Amphenol Corp., Class A |
5,170 | 434,228 | ||||||
TE Connectivity Ltd. |
1,683 | 207,901 | ||||||
Zebra Technologies Corp., Class A(1) |
1,249 | 295,426 | ||||||
|
|
|||||||
937,555 | ||||||||
|
|
|||||||
Energy Equipment & Services 0.6% |
| |||||||
Schlumberger NV |
9,112 | 531,230 | ||||||
TechnipFMC PLC |
16,963 | 345,027 | ||||||
|
|
|||||||
876,257 | ||||||||
|
|
|||||||
Entertainment 1.7% |
| |||||||
Electronic Arts, Inc. |
5,642 | 679,297 | ||||||
Spotify Technology SA(1) |
2,999 | 463,765 | ||||||
Take-Two Interactive Software, Inc.(1) |
3,548 | 498,104 | ||||||
Vivid Seats, Inc., Class A(1) |
23,691 | 152,096 | ||||||
Walt Disney Co.(1) |
12,103 | 980,948 | ||||||
|
|
|||||||
2,774,210 | ||||||||
|
|
|||||||
Financial Services 2.8% |
| |||||||
Block, Inc.(1) |
4,571 | 202,313 | ||||||
Fidelity National Information Services, Inc. |
5,218 | 288,399 | ||||||
Fiserv, Inc.(1) |
3,871 | 437,268 | ||||||
Flywire Corp.(1) |
9,779 | 311,852 | ||||||
Visa, Inc., Class A |
12,318 | 2,833,263 | ||||||
Voya Financial, Inc. |
6,131 | 407,405 | ||||||
|
|
|||||||
4,480,500 | ||||||||
|
|
|||||||
Food Products 1.2% |
| |||||||
Archer-Daniels-Midland Co. |
5,617 | 423,634 | ||||||
J.M. Smucker Co. |
2,628 | 323,008 | ||||||
Mondelez International, Inc., Class A |
15,788 | 1,095,687 | ||||||
Oatly Group AB, ADR(1) |
64,262 | 57,585 | ||||||
|
|
|||||||
1,899,914 | ||||||||
|
|
|||||||
Gas Utilities 0.5% |
| |||||||
Southwest Gas Holdings, Inc. |
13,082 | 790,284 | ||||||
|
|
|||||||
790,284 | ||||||||
|
|
|||||||
Ground Transportation 1.4% |
| |||||||
Canadian Pacific Kansas City Ltd. |
10,899 | 810,994 | ||||||
Saia, Inc.(1) |
1,458 | 581,232 | ||||||
Union Pacific Corp. |
4,486 | 913,484 | ||||||
|
|
|||||||
2,305,710 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 4.0% |
| |||||||
Becton Dickinson & Co. |
5,738 | 1,483,445 | ||||||
Boston Scientific Corp.(1) |
27,836 | 1,469,741 | ||||||
Masimo Corp.(1) |
4,428 | 388,247 | ||||||
Medtronic PLC |
19,769 | 1,549,099 | ||||||
QuidelOrtho Corp.(1) |
5,592 | 408,440 | ||||||
STERIS PLC |
5,087 | 1,116,189 | ||||||
|
|
|||||||
6,415,161 | ||||||||
|
|
|||||||
Health Care Providers & Services 2.3% |
| |||||||
Cigna Group |
7,096 | 2,029,953 | ||||||
Encompass Health Corp. |
8,348 | 560,652 | ||||||
McKesson Corp. |
2,691 | 1,170,181 | ||||||
|
|
|||||||
3,760,786 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN ALL CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Health Care Technology 0.3% |
| |||||||
Veeva Systems, Inc., Class A(1) |
2,489 | $ | 506,387 | |||||
|
|
|||||||
506,387 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 2.5% |
| |||||||
Booking Holdings, Inc.(1) |
234 | 721,644 | ||||||
International Game Technology PLC |
11,515 | 349,135 | ||||||
Las Vegas Sands Corp. |
2,263 | 103,736 | ||||||
Marriott International, Inc., Class A |
2,846 | 559,410 | ||||||
Starbucks Corp. |
18,557 | 1,693,697 | ||||||
Wendys Co. |
28,476 | 581,195 | ||||||
|
|
|||||||
4,008,817 | ||||||||
|
|
|||||||
Household Products 0.8% |
| |||||||
Colgate-Palmolive Co. |
8,474 | 602,586 | ||||||
Procter & Gamble Co. |
5,102 | 744,178 | ||||||
|
|
|||||||
1,346,764 | ||||||||
|
|
|||||||
Industrial Conglomerates 0.7% |
| |||||||
Honeywell International, Inc. |
6,258 | 1,156,103 | ||||||
|
|
|||||||
1,156,103 | ||||||||
|
|
|||||||
Industrial REITs 0.1% |
| |||||||
Prologis, Inc. |
1,440 | 161,582 | ||||||
|
|
|||||||
161,582 | ||||||||
|
|
|||||||
Insurance 3.5% |
| |||||||
Aon PLC, Class A |
4,894 | 1,586,733 | ||||||
Arthur J Gallagher & Co. |
4,588 | 1,045,743 | ||||||
Assurant, Inc. |
1,867 | 268,064 | ||||||
Chubb Ltd. |
4,890 | 1,018,000 | ||||||
Hartford Financial Services Group, Inc. |
6,629 | 470,062 | ||||||
MetLife, Inc. |
6,818 | 428,920 | ||||||
Reinsurance Group of America, Inc. |
2,078 | 301,705 | ||||||
Willis Towers Watson PLC |
2,486 | 519,475 | ||||||
|
|
|||||||
5,638,702 | ||||||||
|
|
|||||||
Interactive Media & Services 5.6% |
| |||||||
Alphabet, Inc., Class A(1) |
46,718 | 6,113,518 | ||||||
Meta Platforms, Inc., Class A(1) |
9,591 | 2,879,314 | ||||||
|
|
|||||||
8,992,832 | ||||||||
|
|
|||||||
IT Services 0.4% |
| |||||||
Accenture PLC, Class A |
1,023 | 314,173 | ||||||
Gartner, Inc.(1) |
934 | 320,932 | ||||||
|
|
|||||||
635,105 | ||||||||
|
|
|||||||
Leisure Products 0.2% |
| |||||||
Hasbro, Inc. |
4,003 | 264,758 | ||||||
|
|
|||||||
264,758 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 1.1% |
| |||||||
Agilent Technologies, Inc. |
4,928 | 551,049 | ||||||
ICON PLC(1) |
3,045 | 749,831 | ||||||
Maravai LifeSciences Holdings, Inc., Class A(1) |
51,346 | 513,460 | ||||||
|
|
|||||||
1,814,340 | ||||||||
|
|
|||||||
Machinery 1.3% |
| |||||||
Dover Corp. |
3,046 | 424,947 | ||||||
Flowserve Corp. |
4,526 | 179,999 | ||||||
Ingersoll Rand, Inc. |
6,455 | 411,313 | ||||||
PACCAR, Inc. |
5,435 | 462,084 | ||||||
Westinghouse Air Brake Technologies Corp. |
5,193 | 551,860 | ||||||
|
|
|||||||
2,030,203 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN ALL CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Media 1.3% |
| |||||||
Altice USA, Inc., Class A(1) |
45,810 | $ | 149,799 | |||||
Cable One, Inc. |
1,230 | 757,237 | ||||||
Liberty Broadband Corp., Class C(1) |
9,364 | 855,120 | ||||||
Omnicom Group, Inc. |
3,518 | 262,021 | ||||||
|
|
|||||||
2,024,177 | ||||||||
|
|
|||||||
Multi-Utilities 0.1% |
| |||||||
Dominion Energy, Inc. |
3,009 | 134,412 | ||||||
|
|
|||||||
134,412 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 4.3% |
| |||||||
Cheniere Energy, Inc. |
2,365 | 392,495 | ||||||
ConocoPhillips |
9,366 | 1,122,047 | ||||||
Diamondback Energy, Inc. |
4,935 | 764,333 | ||||||
Exxon Mobil Corp. |
28,068 | 3,300,235 | ||||||
Hess Corp. |
3,423 | 523,719 | ||||||
Phillips 66 |
3,404 | 408,991 | ||||||
Valero Energy Corp. |
2,676 | 379,216 | ||||||
|
|
|||||||
6,891,036 | ||||||||
|
|
|||||||
Personal Care Products 0.5% |
| |||||||
Kenvue, Inc. |
38,974 | 782,598 | ||||||
|
|
|||||||
782,598 | ||||||||
|
|
|||||||
Pharmaceuticals 4.0% |
| |||||||
Eli Lilly & Co. |
4,456 | 2,393,451 | ||||||
Johnson & Johnson |
10,087 | 1,571,050 | ||||||
Pfizer, Inc. |
45,326 | 1,503,463 | ||||||
Zoetis, Inc. |
5,728 | 996,558 | ||||||
|
|
|||||||
6,464,522 | ||||||||
|
|
|||||||
Professional Services 3.6% |
| |||||||
Dun & Bradstreet Holdings, Inc. |
155,171 | 1,550,158 | ||||||
Insperity, Inc. |
6,964 | 679,687 | ||||||
Jacobs Solutions, Inc. |
5,072 | 692,328 | ||||||
Leidos Holdings, Inc. |
10,648 | 981,320 | ||||||
TriNet Group, Inc.(1) |
7,296 | 849,838 | ||||||
Verisk Analytics, Inc. |
2,546 | 601,467 | ||||||
WNS Holdings Ltd., ADR(1) |
5,581 | 382,075 | ||||||
|
|
|||||||
5,736,873 | ||||||||
|
|
|||||||
Real Estate Management & Development 0.1% |
| |||||||
Jones Lang LaSalle, Inc.(1) |
1,310 | 184,946 | ||||||
|
|
|||||||
184,946 | ||||||||
|
|
|||||||
Residential REITs 0.3% |
| |||||||
AvalonBay Communities, Inc. |
1,126 | 193,379 | ||||||
Sun Communities, Inc. |
2,692 | 318,572 | ||||||
|
|
|||||||
511,951 | ||||||||
|
|
|||||||
Retail REITs 0.2% |
| |||||||
Spirit Realty Capital, Inc. |
10,240 | 343,347 | ||||||
|
|
|||||||
343,347 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 6.3% |
| |||||||
Advanced Micro Devices, Inc.(1) |
6,970 | 716,655 | ||||||
Analog Devices, Inc. |
5,694 | 996,962 | ||||||
Applied Materials, Inc. |
9,387 | 1,299,630 | ||||||
Broadcom, Inc. |
2,756 | 2,289,079 | ||||||
Enphase Energy, Inc.(1) |
1,418 | 170,373 | ||||||
Lam Research Corp. |
1,842 | 1,154,510 | ||||||
Marvell Technology, Inc. |
18,205 | 985,437 | ||||||
Monolithic Power Systems, Inc. |
934 | 431,508 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN ALL CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Semiconductors & Semiconductor Equipment (continued) |
| |||||||
NVIDIA Corp. |
2,850 | $ | 1,239,722 | |||||
NXP Semiconductors NV |
4,438 | 887,245 | ||||||
|
|
|||||||
10,171,121 | ||||||||
|
|
|||||||
Software 10.9% |
| |||||||
Autodesk, Inc.(1) |
2,831 | 585,762 | ||||||
Cadence Design Systems, Inc.(1) |
5,256 | 1,231,481 | ||||||
Check Point Software Technologies Ltd.(1) |
1,796 | 239,371 | ||||||
Datadog, Inc., Class A(1) |
4,112 | 374,562 | ||||||
Microsoft Corp. |
34,970 | 11,041,778 | ||||||
Nice Ltd., ADR(1) |
2,186 | 371,620 | ||||||
Rapid7, Inc.(1) |
9,867 | 451,711 | ||||||
Salesforce, Inc.(1) |
7,352 | 1,490,839 | ||||||
ServiceNow, Inc.(1) |
2,294 | 1,282,254 | ||||||
Tyler Technologies, Inc.(1) |
1,031 | 398,110 | ||||||
|
|
|||||||
17,467,488 | ||||||||
|
|
|||||||
Specialized REITs 1.4% |
| |||||||
Equinix, Inc. |
760 | 551,957 | ||||||
Extra Space Storage, Inc. |
2,574 | 312,947 | ||||||
Rayonier, Inc. |
28,232 | 803,483 | ||||||
SBA Communications Corp. |
2,642 | 528,849 | ||||||
|
|
|||||||
2,197,236 | ||||||||
|
|
|||||||
Specialty Retail 1.8% |
| |||||||
Burlington Stores, Inc.(1) |
2,198 | 297,389 | ||||||
Home Depot, Inc. |
6,368 | 1,924,155 | ||||||
Ross Stores, Inc. |
6,449 | 728,415 | ||||||
|
|
|||||||
2,949,959 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 5.0% |
| |||||||
Apple, Inc. |
41,349 | 7,079,362 | ||||||
Seagate Technology Holdings PLC |
13,966 | 921,058 | ||||||
|
|
|||||||
8,000,420 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods 0.5% |
| |||||||
Deckers Outdoor Corp.(1) |
867 | 445,716 | ||||||
VF Corp. |
19,047 | 336,561 | ||||||
|
|
|||||||
782,277 | ||||||||
|
|
|||||||
Tobacco 0.5% |
| |||||||
Philip Morris International, Inc. |
8,265 | 765,174 | ||||||
|
|
|||||||
765,174 | ||||||||
|
|
|||||||
Wireless Telecommunication Services 0.4% |
| |||||||
T-Mobile U.S., Inc.(1) |
4,931 | 690,587 | ||||||
|
|
|||||||
690,587 | ||||||||
|
|
|||||||
Total Common Stocks |
|
160,167,157 | ||||||
|
|
|||||||
Principal Amount |
Value | |||||||
Repurchase Agreements 0.4% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $715,050, due 10/2/2023(2) |
$ | 714,955 | 714,955 | |||||
|
|
|||||||
Total Repurchase Agreements |
|
714,955 | ||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN ALL CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Value | |||
Total Investments 100.2% |
$ | 160,882,112 | ||
|
|
|||
Liabilities in excess of other assets (0.2)% |
(348,447 | ) | ||
|
|
|||
Total Net Assets 100.0% |
$ | 160,533,665 | ||
|
|
(1) | Nonincomeproducing security. |
(2) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 807,400 | $ | 729,287 |
Legend:
ADR American Depositary Receipt
REITs Real Estate Investment Trusts
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 September 30, 2023 in valuing the Funds 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 |
$ | 160,167,157 | $ | | $ | | $ | 160,167,157 | ||||||||
Repurchase Agreements |
| 714,955 | | 714,955 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 160,167,157 | $ | 714,955 | $ | | $ | 160,882,112 | ||||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 64.7% |
| |||||||
Aerospace & Defense 1.3% |
| |||||||
Boeing Co.(1) |
2,913 | $ | 558,364 | |||||
General Dynamics Corp. |
4,051 | 895,149 | ||||||
Lockheed Martin Corp. |
1,636 | 669,059 | ||||||
RTX Corp. |
8,257 | 594,256 | ||||||
|
|
|||||||
2,716,828 | ||||||||
|
|
|||||||
Air Freight & Logistics 0.2% |
| |||||||
CH Robinson Worldwide, Inc. |
5,002 | 430,822 | ||||||
|
|
|||||||
430,822 | ||||||||
|
|
|||||||
Automobiles 0.2% |
| |||||||
Ford Motor Co. |
11,064 | 137,415 | ||||||
Tesla, Inc.(1) |
1,516 | 379,333 | ||||||
|
|
|||||||
516,748 | ||||||||
|
|
|||||||
Banks 1.6% |
| |||||||
JPMorgan Chase & Co. |
17,797 | 2,580,921 | ||||||
Wells Fargo & Co. |
20,068 | 819,978 | ||||||
|
|
|||||||
3,400,899 | ||||||||
|
|
|||||||
Beverages 1.5% |
| |||||||
Constellation Brands, Inc., Class A |
5,473 | 1,375,529 | ||||||
Monster Beverage Corp.(1) |
33,660 | 1,782,297 | ||||||
|
|
|||||||
3,157,826 | ||||||||
|
|
|||||||
Biotechnology 1.1% |
| |||||||
Alnylam Pharmaceuticals, Inc.(1) |
320 | 56,672 | ||||||
Apellis Pharmaceuticals, Inc.(1) |
878 | 33,399 | ||||||
Ascendis Pharma AS, ADR(1) |
708 | 66,297 | ||||||
Biogen, Inc.(1) |
866 | 222,571 | ||||||
Bridgebio Pharma, Inc.(1) |
1,411 | 37,208 | ||||||
Celldex Therapeutics, Inc.(1) |
1,320 | 36,326 | ||||||
Crinetics Pharmaceuticals, Inc.(1) |
1,405 | 41,785 | ||||||
Cytokinetics, Inc.(1) |
3,895 | 114,747 | ||||||
Genmab AS, ADR(1) |
1,782 | 62,851 | ||||||
Gilead Sciences, Inc. |
1,912 | 143,285 | ||||||
Immunocore Holdings PLC, ADR(1) |
900 | 46,710 | ||||||
ImmunoGen, Inc.(1) |
3,250 | 51,578 | ||||||
Karuna Therapeutics, Inc.(1) |
657 | 111,092 | ||||||
Moderna, Inc.(1) |
650 | 67,138 | ||||||
Prothena Corp. PLC(1) |
424 | 20,458 | ||||||
PTC Therapeutics, Inc.(1) |
1,011 | 22,657 | ||||||
Regeneron Pharmaceuticals, Inc.(1) |
416 | 342,351 | ||||||
REVOLUTION Medicines, Inc.(1) |
1,674 | 46,336 | ||||||
Roivant Sciences Ltd.(1) |
3,269 | 38,182 | ||||||
Sage Therapeutics, Inc.(1) |
2,831 | 58,262 | ||||||
Sarepta Therapeutics, Inc.(1) |
502 | 60,852 | ||||||
United Therapeutics Corp.(1) |
271 | 61,211 | ||||||
Vaxcyte, Inc.(1) |
752 | 38,337 | ||||||
Vertex Pharmaceuticals, Inc.(1) |
1,363 | 473,970 | ||||||
|
|
|||||||
2,254,275 | ||||||||
|
|
|||||||
Broadline Retail 3.3% |
| |||||||
Amazon.com, Inc.(1) |
54,276 | 6,899,565 | ||||||
|
|
|||||||
6,899,565 | ||||||||
|
|
|||||||
Building Products 0.7% |
| |||||||
AZEK Co., Inc.(1) |
8,554 | 254,396 | ||||||
Builders FirstSource, Inc.(1) |
2,718 | 338,364 | ||||||
Fortune Brands Innovations, Inc. |
3,388 | 210,598 | ||||||
Johnson Controls International PLC |
2,702 | 143,773 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Building Products (continued) |
| |||||||
Trane Technologies PLC |
1,496 | $ | 303,553 | |||||
Zurn Elkay Water Solutions Corp. |
3,786 | 106,084 | ||||||
|
|
|||||||
1,356,768 | ||||||||
|
|
|||||||
Capital Markets 2.0% |
| |||||||
Ares Management Corp., Class A |
18,232 | 1,875,526 | ||||||
KKR & Co., Inc. |
7,050 | 434,280 | ||||||
S&P Global, Inc. |
3,927 | 1,434,965 | ||||||
Tradeweb Markets, Inc., Class A |
4,455 | 357,291 | ||||||
|
|
|||||||
4,102,062 | ||||||||
|
|
|||||||
Chemicals 1.6% |
| |||||||
Cabot Corp. |
7,985 | 553,121 | ||||||
Celanese Corp. |
3,259 | 409,070 | ||||||
FMC Corp. |
5,544 | 371,282 | ||||||
Ingevity Corp.(1) |
3,509 | 167,063 | ||||||
Linde PLC |
3,166 | 1,178,860 | ||||||
Livent Corp.(1) |
6,574 | 121,027 | ||||||
PPG Industries, Inc. |
4,514 | 585,917 | ||||||
|
|
|||||||
3,386,340 | ||||||||
|
|
|||||||
Commercial Services & Supplies 0.4% |
| |||||||
Clean Harbors, Inc.(1) |
2,376 | 397,647 | ||||||
Waste Connections, Inc. |
3,165 | 425,060 | ||||||
|
|
|||||||
822,707 | ||||||||
|
|
|||||||
Construction & Engineering 0.2% |
| |||||||
Fluor Corp.(1) |
12,540 | 460,218 | ||||||
|
|
|||||||
460,218 | ||||||||
|
|
|||||||
Consumer Finance 0.4% |
| |||||||
American Express Co. |
4,968 | 741,176 | ||||||
|
|
|||||||
741,176 | ||||||||
|
|
|||||||
Consumer Staples Distribution & Retail 0.4% |
| |||||||
Performance Food Group Co.(1) |
15,301 | 900,617 | ||||||
|
|
|||||||
900,617 | ||||||||
|
|
|||||||
Containers & Packaging 0.1% |
| |||||||
Ball Corp. |
3,148 | 156,707 | ||||||
|
|
|||||||
156,707 | ||||||||
|
|
|||||||
Electric Utilities 1.4% |
| |||||||
Edison International |
9,961 | 630,432 | ||||||
Exelon Corp. |
16,948 | 640,465 | ||||||
NextEra Energy, Inc. |
13,618 | 780,175 | ||||||
PG&E Corp.(1) |
56,888 | 917,603 | ||||||
|
|
|||||||
2,968,675 | ||||||||
|
|
|||||||
Electrical Equipment 0.2% |
| |||||||
AMETEK, Inc. |
1,152 | 170,219 | ||||||
Emerson Electric Co. |
1,998 | 192,947 | ||||||
|
|
|||||||
363,166 | ||||||||
|
|
|||||||
Energy Equipment & Services 0.3% |
| |||||||
Schlumberger NV |
12,033 | 701,524 | ||||||
|
|
|||||||
701,524 | ||||||||
|
|
|||||||
Entertainment 0.9% |
| |||||||
Roku, Inc.(1) |
7,340 | 518,130 | ||||||
Spotify Technology SA(1) |
5,481 | 847,582 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Entertainment (continued) |
| |||||||
Walt Disney Co.(1) |
7,260 | $ | 588,423 | |||||
|
|
|||||||
1,954,135 | ||||||||
|
|
|||||||
Financial Services 3.3% |
| |||||||
Berkshire Hathaway, Inc., Class B(1) |
9,101 | 3,188,080 | ||||||
Block, Inc.(1) |
14,142 | 625,925 | ||||||
FleetCor Technologies, Inc.(1) |
1,884 | 481,061 | ||||||
Global Payments, Inc. |
5,483 | 632,683 | ||||||
PayPal Holdings, Inc.(1) |
4,547 | 265,818 | ||||||
Visa, Inc., Class A |
3,788 | 871,278 | ||||||
WEX, Inc.(1) |
3,804 | 715,494 | ||||||
|
|
|||||||
6,780,339 | ||||||||
|
|
|||||||
Food Products 0.2% |
| |||||||
Lamb Weston Holdings, Inc. |
3,612 | 333,966 | ||||||
|
|
|||||||
333,966 | ||||||||
|
|
|||||||
Gas Utilities 0.3% |
| |||||||
Atmos Energy Corp. |
5,389 | 570,857 | ||||||
|
|
|||||||
570,857 | ||||||||
|
|
|||||||
Ground Transportation 0.9% |
| |||||||
Knight-Swift Transportation Holdings, Inc. |
11,657 | 584,599 | ||||||
Uber Technologies, Inc.(1) |
27,699 | 1,273,877 | ||||||
|
|
|||||||
1,858,476 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 1.5% |
| |||||||
Abbott Laboratories |
7,433 | 719,886 | ||||||
Boston Scientific Corp.(1) |
15,183 | 801,662 | ||||||
Dexcom, Inc.(1) |
4,905 | 457,637 | ||||||
Edwards Lifesciences Corp.(1) |
8,118 | 562,415 | ||||||
Insulet Corp.(1) |
1,954 | 311,644 | ||||||
Stryker Corp. |
1,115 | 304,696 | ||||||
|
|
|||||||
3,157,940 | ||||||||
|
|
|||||||
Health Care Providers & Services 2.5% |
| |||||||
agilon health, Inc.(1) |
18,610 | 330,514 | ||||||
Cencora, Inc. |
4,514 | 812,385 | ||||||
Centene Corp.(1) |
6,621 | 456,054 | ||||||
Elevance Health, Inc. |
1,259 | 548,194 | ||||||
HCA Healthcare, Inc. |
2,292 | 563,786 | ||||||
Humana, Inc. |
1,746 | 849,464 | ||||||
Molina Healthcare, Inc.(1) |
2,289 | 750,540 | ||||||
UnitedHealth Group, Inc. |
1,591 | 802,166 | ||||||
|
|
|||||||
5,113,103 | ||||||||
|
|
|||||||
Health Care REITs 0.3% |
| |||||||
Welltower, Inc. |
7,769 | 636,437 | ||||||
|
|
|||||||
636,437 | ||||||||
|
|
|||||||
Health Care Technology 0.1% |
| |||||||
Veeva Systems, Inc., Class A(1) |
847 | 172,322 | ||||||
|
|
|||||||
172,322 | ||||||||
|
|
|||||||
Hotel & Resort REITs 0.3% |
| |||||||
Ryman Hospitality Properties, Inc. |
6,507 | 541,903 | ||||||
|
|
|||||||
541,903 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 1.5% |
| |||||||
Airbnb, Inc., Class A(1) |
9,879 | 1,355,498 | ||||||
Chipotle Mexican Grill, Inc.(1) |
568 | 1,040,479 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Hotels, Restaurants & Leisure (continued) |
| |||||||
Hyatt Hotels Corp., Class A |
6,233 | $ | 661,197 | |||||
|
|
|||||||
3,057,174 | ||||||||
|
|
|||||||
Household Durables 0.4% |
| |||||||
D.R. Horton, Inc. |
1,454 | 156,261 | ||||||
Lennar Corp., Class A |
3,086 | 346,342 | ||||||
Skyline Champion Corp.(1) |
5,037 | 320,958 | ||||||
|
|
|||||||
823,561 | ||||||||
|
|
|||||||
Industrial Conglomerates 0.2% |
| |||||||
Honeywell International, Inc. |
2,267 | 418,806 | ||||||
|
|
|||||||
418,806 | ||||||||
|
|
|||||||
Industrial REITs 0.2% |
| |||||||
EastGroup Properties, Inc. |
3,046 | 507,250 | ||||||
|
|
|||||||
507,250 | ||||||||
|
|
|||||||
Insurance 1.8% |
| |||||||
Arch Capital Group Ltd.(1) |
7,315 | 583,079 | ||||||
Assured Guaranty Ltd. |
3,693 | 223,500 | ||||||
Chubb Ltd. |
3,630 | 755,693 | ||||||
Everest Group Ltd. |
945 | 351,228 | ||||||
Marsh & McLennan Cos., Inc. |
4,589 | 873,287 | ||||||
Progressive Corp. |
4,455 | 620,582 | ||||||
Trupanion, Inc.(1) |
11,575 | 326,415 | ||||||
|
|
|||||||
3,733,784 | ||||||||
|
|
|||||||
Interactive Media & Services 6.2% |
| |||||||
Alphabet, Inc., Class A(1) |
61,844 | 8,092,906 | ||||||
Bumble, Inc., Class A(1) |
37,686 | 562,275 | ||||||
Meta Platforms, Inc., Class A(1) |
14,022 | 4,209,545 | ||||||
|
|
|||||||
12,864,726 | ||||||||
|
|
|||||||
IT Services 1.1% |
| |||||||
Shopify, Inc., Class A(1) |
21,981 | 1,199,503 | ||||||
Snowflake, Inc., Class A(1) |
1,203 | 183,782 | ||||||
Squarespace, Inc., Class A(1) |
18,300 | 530,151 | ||||||
VeriSign, Inc.(1) |
2,096 | 424,503 | ||||||
|
|
|||||||
2,337,939 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 1.3% |
| |||||||
Agilent Technologies, Inc. |
4,362 | 487,759 | ||||||
Danaher Corp. |
5,044 | 1,251,416 | ||||||
ICON PLC(1) |
2,417 | 595,186 | ||||||
Illumina, Inc.(1) |
2,313 | 317,529 | ||||||
|
|
|||||||
2,651,890 | ||||||||
|
|
|||||||
Machinery 0.7% |
| |||||||
Caterpillar, Inc. |
300 | 81,900 | ||||||
Flowserve Corp. |
8,721 | 346,834 | ||||||
Fortive Corp. |
4,809 | 356,635 | ||||||
Ingersoll Rand, Inc. |
2,858 | 182,112 | ||||||
Middleby Corp.(1) |
2,526 | 323,328 | ||||||
Westinghouse Air Brake Technologies Corp. |
1,904 | 202,338 | ||||||
|
|
|||||||
1,493,147 | ||||||||
|
|
|||||||
Media 0.5% |
| |||||||
New York Times Co., Class A |
12,015 | 495,018 | ||||||
Omnicom Group, Inc. |
7,880 | 586,902 | ||||||
|
|
|||||||
1,081,920 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 3.2% |
| |||||||
BP PLC, ADR |
47,673 | 1,845,899 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Oil, Gas & Consumable Fuels (continued) |
| |||||||
ConocoPhillips |
9,025 | $ | 1,081,195 | |||||
EOG Resources, Inc. |
3,342 | 423,632 | ||||||
EQT Corp. |
8,111 | 329,144 | ||||||
Marathon Petroleum Corp. |
5,467 | 827,376 | ||||||
Shell PLC, ADR |
27,150 | 1,747,917 | ||||||
Targa Resources Corp. |
5,193 | 445,144 | ||||||
|
|
|||||||
6,700,307 | ||||||||
|
|
|||||||
Passenger Airlines 0.2% |
| |||||||
Delta Air Lines, Inc. |
9,110 | 337,070 | ||||||
|
|
|||||||
337,070 | ||||||||
|
|
|||||||
Personal Care Products 0.2% |
| |||||||
Haleon PLC, ADR |
45,800 | 381,514 | ||||||
|
|
|||||||
381,514 | ||||||||
|
|
|||||||
Pharmaceuticals 3.4% |
| |||||||
AstraZeneca PLC, ADR |
14,113 | 955,732 | ||||||
Elanco Animal Health, Inc.(1) |
11,656 | 131,013 | ||||||
Eli Lilly & Co. |
4,566 | 2,452,536 | ||||||
GSK PLC, ADR |
7,990 | 289,638 | ||||||
Merck & Co., Inc. |
14,240 | 1,466,008 | ||||||
Novartis AG, ADR |
3,712 | 378,104 | ||||||
Pfizer, Inc. |
31,782 | 1,054,209 | ||||||
Zoetis, Inc. |
2,460 | 427,991 | ||||||
|
|
|||||||
7,155,231 | ||||||||
|
|
|||||||
Professional Services 0.6% |
| |||||||
Ceridian HCM Holding, Inc.(1) |
8,762 | 594,502 | ||||||
Genpact Ltd. |
6,316 | 228,639 | ||||||
Science Applications International Corp. |
3,823 | 403,479 | ||||||
TriNet Group, Inc.(1) |
552 | 64,297 | ||||||
|
|
|||||||
1,290,917 | ||||||||
|
|
|||||||
Real Estate Management & Development 0.1% |
| |||||||
CoStar Group, Inc.(1) |
2,314 | 177,924 | ||||||
|
|
|||||||
177,924 | ||||||||
|
|
|||||||
Residential REITs 0.2% |
| |||||||
AvalonBay Communities, Inc. |
2,257 | 387,617 | ||||||
|
|
|||||||
387,617 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 4.1% |
| |||||||
Advanced Micro Devices, Inc.(1) |
17,083 | 1,756,474 | ||||||
First Solar, Inc.(1) |
1,528 | 246,909 | ||||||
KLA Corp. |
1,783 | 817,791 | ||||||
Marvell Technology, Inc. |
10,525 | 569,718 | ||||||
Micron Technology, Inc. |
11,295 | 768,399 | ||||||
NVIDIA Corp. |
3,508 | 1,525,945 | ||||||
ON Semiconductor Corp.(1) |
7,335 | 681,788 | ||||||
Teradyne, Inc. |
5,480 | 550,521 | ||||||
Texas Instruments, Inc. |
9,778 | 1,554,800 | ||||||
|
|
|||||||
8,472,345 | ||||||||
|
|
|||||||
Software 6.4% |
| |||||||
Aurora Innovation, Inc.(1) |
26,768 | 62,905 | ||||||
HashiCorp, Inc., Class A(1) |
6,744 | 153,966 | ||||||
HubSpot, Inc.(1) |
733 | 361,003 | ||||||
Klaviyo, Inc., Class A(1) |
700 | 24,150 | ||||||
Microsoft Corp. |
29,926 | 9,449,134 | ||||||
Palo Alto Networks, Inc.(1) |
1,453 | 340,641 | ||||||
Salesforce, Inc.(1) |
4,862 | 985,916 | ||||||
ServiceNow, Inc.(1) |
1,705 | 953,027 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Software (continued) |
| |||||||
Synopsys, Inc.(1) |
1,230 | $ | 564,533 | |||||
Workday, Inc., Class A(1) |
2,239 | 481,049 | ||||||
|
|
|||||||
13,376,324 | ||||||||
|
|
|||||||
Specialty Retail 1.6% |
| |||||||
AutoZone, Inc.(1) |
507 | 1,287,775 | ||||||
TJX Cos., Inc. |
23,045 | 2,048,240 | ||||||
|
|
|||||||
3,336,015 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 1.7% |
| |||||||
Apple, Inc. |
20,988 | 3,593,356 | ||||||
|
|
|||||||
3,593,356 | ||||||||
|
|
|||||||
Tobacco 1.1% |
| |||||||
Philip Morris International, Inc. |
24,315 | 2,251,083 | ||||||
|
|
|||||||
2,251,083 | ||||||||
|
|
|||||||
Trading Companies & Distributors 0.1% |
| |||||||
WESCO International, Inc. |
771 | 110,885 | ||||||
|
|
|||||||
110,885 | ||||||||
|
|
|||||||
Wireless Telecommunication Services 0.7% |
| |||||||
T-Mobile U.S., Inc.(1) |
10,614 | 1,486,491 | ||||||
|
|
|||||||
1,486,491 | ||||||||
|
|
|||||||
Total Common Stocks (Cost $124,404,858) |
|
134,483,677 | ||||||
|
|
|||||||
Principal Amount |
Value | |||||||
Agency MortgageBacked Securities 8.8% |
| |||||||
Federal Home Loan Mortgage Corp. |
| |||||||
2.00% due 5/1/2036 |
$ | 77,987 | 67,195 | |||||
2.00% due 7/1/2036 |
42,291 | 36,441 | ||||||
2.00% due 5/1/2051 |
1,366,596 | 1,045,747 | ||||||
2.00% due 4/1/2052 |
1,299,500 | 999,353 | ||||||
2.50% due 7/1/2041 |
380,972 | 315,316 | ||||||
2.50% due 2/1/2042 |
558,701 | 465,529 | ||||||
2.50% due 7/1/2051 |
1,249,466 | 1,003,204 | ||||||
2.50% due 10/1/2051 |
435,377 | 346,453 | ||||||
2.50% due 11/1/2051 |
408,696 | 326,191 | ||||||
3.00% due 10/1/2049 |
318,950 | 267,012 | ||||||
3.00% due 10/1/2051 |
298,473 | 249,176 | ||||||
4.00% due 4/1/2052 |
352,137 | 314,585 | ||||||
4.50% due 9/1/2037 |
194,410 | 186,370 | ||||||
4.50% due 1/1/2038 |
123,261 | 118,164 | ||||||
4.50% due 5/1/2038 |
25,929 | 24,850 | ||||||
4.50% due 7/1/2052 |
707,645 | 649,570 | ||||||
5.00% due 10/1/2052 |
247,713 | 233,669 | ||||||
5.00% due 1/1/2053 |
129,107 | 121,788 | ||||||
5.00% due 2/1/2053 |
179,092 | 168,939 | ||||||
5.00% due 4/1/2053 |
121,137 | 114,254 | ||||||
5.50% due 9/1/2052 |
261,020 | 252,807 | ||||||
5.50% due 2/1/2053 |
26,115 | 25,236 | ||||||
Federal National Mortgage Association |
||||||||
2.00% due 4/1/2036 |
23,487 | 20,238 | ||||||
2.00% due 6/1/2036 |
9,444 | 8,119 | ||||||
2.00% due 9/1/2036 |
33,605 | 28,910 | ||||||
2.00% due 3/1/2037 |
18,433 | 15,817 | ||||||
2.00% due 12/1/2050 |
1,225,262 | 936,604 | ||||||
2.00% due 2/1/2051 |
121,797 | 94,139 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Agency MortgageBacked Securities (continued) |
| |||||||
2.50% due 2/1/2041 |
$ | 66,156 | $ | 55,421 | ||||
2.50% due 5/1/2051 |
999,927 | 800,936 | ||||||
3.00% due 6/1/2051 |
252,646 | 212,341 | ||||||
3.00% due 10/1/2051 |
767,585 | 636,960 | ||||||
3.50% due 6/1/2037 |
71,219 | 65,815 | ||||||
3.50% due 4/1/2050 |
95,137 | 82,539 | ||||||
3.50% due 7/1/2051 |
530,083 | 459,729 | ||||||
3.50% due 4/1/2052 |
383,176 | 330,789 | ||||||
4.00% due 1/1/2038 |
564,013 | 532,096 | ||||||
4.00% due 8/1/2052 |
134,981 | 120,277 | ||||||
4.00% due 9/1/2052 |
216,968 | 193,376 | ||||||
4.00% due 10/1/2052 |
136,681 | 121,714 | ||||||
4.50% due 1/1/2038 |
130,899 | 125,486 | ||||||
4.50% due 4/1/2038 |
480,086 | 460,109 | ||||||
4.50% due 1/1/2053 |
146,435 | 134,869 | ||||||
5.00% due 8/1/2052 |
688,925 | 649,868 | ||||||
5.00% due 5/1/2053 |
287,580 | 271,241 | ||||||
5.50% due 1/1/2053 |
159,853 | 154,504 | ||||||
Freddie Mac Multifamily Structured Pass-Through Certificates |
| |||||||
Series K-150, Class A2 3.71% due 9/25/2032(2)(3) |
78,000 | 69,345 | ||||||
Series K-156, Class A2 4.43% due 2/25/2033(2)(3) |
165,000 | 154,730 | ||||||
Series K1522, Class A2 2.361% due 10/25/2036 |
500,000 | 356,048 | ||||||
Government National Mortgage Association |
||||||||
2.00% due 1/20/2051 |
117,799 | 93,320 | ||||||
2.00% due 2/20/2051 |
103,731 | 82,138 | ||||||
2.00% due 7/20/2051 |
136,416 | 108,051 | ||||||
2.00% due 11/20/2051 |
310,150 | 245,355 | ||||||
2.50% due 5/20/2051 |
539,834 | 442,679 | ||||||
2.50% due 8/20/2051 |
541,032 | 442,314 | ||||||
3.00% due 1/20/2051 |
509,760 | 434,727 | ||||||
3.00% due 5/20/2051 |
514,042 | 437,219 | ||||||
3.50% due 1/20/2052 |
462,109 | 404,969 | ||||||
3.50% due 2/20/2052 |
456,425 | 399,988 | ||||||
4.00% due 4/20/2052 |
87,277 | 78,580 | ||||||
4.00% due 5/20/2052 |
248,874 | 224,075 | ||||||
4.00% due 8/20/2052 |
366,031 | 329,558 | ||||||
4.50% due 8/20/2048 |
182,857 | 171,305 | ||||||
|
|
|||||||
Total Agency MortgageBacked Securities (Cost $19,896,426) |
|
18,318,147 | ||||||
|
|
|||||||
AssetBacked Securities 1.0% |
| |||||||
CF Hippolyta Issuer LLC |
| |||||||
Series 2021-1A, Class A1 |
| |||||||
1.53% due 3/15/2061(4) |
183,777 | 161,503 | ||||||
Series 2022-1A, Class A1 |
||||||||
5.97% due 8/15/2062(4) |
97,713 | 95,050 | ||||||
GM Financial Consumer Automobile Receivables Trust |
| |||||||
Series 2023-1, Class A2A |
| |||||||
5.19% due 3/16/2026 |
75,651 | 75,321 | ||||||
Series 2023-2, Class A3 |
||||||||
4.47% due 2/16/2028 |
105,000 | 102,710 | ||||||
Kubota Credit Owner Trust |
||||||||
Series 2023-2A, Class A3 |
||||||||
5.28% due 1/18/2028(4) |
155,000 | 153,316 | ||||||
Navient Private Education Refi Loan Trust |
||||||||
Series 2023-A, Class A |
||||||||
5.51% due 10/15/2071(4) |
201,126 | 197,015 | ||||||
New Economy Assets Phase 1 Sponsor LLC |
||||||||
Series 2021-1, Class A1 |
||||||||
1.91% due 10/20/2061(4) |
335,000 | 289,441 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
AssetBacked Securities (continued) |
||||||||
Retained Vantage Data Centers Issuer LLC |
||||||||
Series 2023-1A, Class A2A |
||||||||
5.00% due 9/15/2048(4) |
$ | 371,000 | $ | 335,773 | ||||
SFS Auto Receivables Securitization Trust |
||||||||
Series 2023-1A, Class A2A |
||||||||
5.89% due 3/22/2027(4) |
80,000 | 79,868 | ||||||
Vantage Data Centers Issuer LLC |
||||||||
Series 2021-1A, Class A2 |
||||||||
2.165% due 10/15/2046(4) |
200,000 | 175,116 | ||||||
Wheels Fleet Lease Funding 1 LLC |
||||||||
Series 2023-1A, Class A |
||||||||
5.80% due 4/18/2038(4) |
375,000 | 372,828 | ||||||
|
|
|||||||
Total AssetBacked Securities |
2,037,941 | |||||||
|
|
|||||||
Corporate Bonds & Notes 8.6% |
||||||||
Aerospace & Defense 0.1% |
||||||||
HEICO Corp. |
||||||||
5.35% due 8/1/2033 |
309,000 | 292,765 | ||||||
|
|
|||||||
292,765 | ||||||||
|
|
|||||||
Agriculture 0.1% |
||||||||
BAT Capital Corp. |
||||||||
6.343% due 8/2/2030 |
135,000 | 132,959 | ||||||
Philip Morris International, Inc. |
||||||||
5.125% due 11/17/2027 |
105,000 | 102,851 | ||||||
|
|
|||||||
235,810 | ||||||||
|
|
|||||||
Airlines 0.0% |
||||||||
United Airlines Pass-Through Trust |
||||||||
Series 2016-1, Class AA |
||||||||
3.10% due 7/7/2028 |
41,004 | 36,801 | ||||||
|
|
|||||||
36,801 | ||||||||
|
|
|||||||
Auto Manufacturers 0.1% |
||||||||
Daimler Truck Finance North America LLC |
||||||||
5.15% due 1/16/2026(4) |
150,000 | 147,937 | ||||||
|
|
|||||||
147,937 | ||||||||
|
|
|||||||
Beverages 0.2% |
||||||||
Anheuser-Busch InBev Worldwide, Inc. |
||||||||
4.60% due 4/15/2048 |
171,000 | 144,673 | ||||||
Bacardi Ltd./Bacardi-Martini BV |
||||||||
5.25% due 1/15/2029(4) |
100,000 | 96,778 | ||||||
5.90% due 6/15/2043(4) |
100,000 | 92,718 | ||||||
|
|
|||||||
334,169 | ||||||||
|
|
|||||||
Biotechnology 0.0% |
||||||||
Gilead Sciences, Inc. |
||||||||
5.55% due 10/15/2053 |
50,000 | 48,184 | ||||||
|
|
|||||||
48,184 | ||||||||
|
|
|||||||
Building Materials 0.0% |
||||||||
Trane Technologies Financing Ltd. |
||||||||
5.25% due 3/3/2033 |
85,000 | 81,891 | ||||||
|
|
|||||||
81,891 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Chemicals 0.1% |
||||||||
Celanese U.S. Holdings LLC |
||||||||
6.35% due 11/15/2028 |
$ | 145,000 | $ | 143,144 | ||||
|
|
|||||||
143,144 | ||||||||
|
|
|||||||
Commercial Banks 1.8% |
||||||||
Bank of America Corp. |
||||||||
1.734% (1.734% fixed rate until 7/22/2026; SOFR + 0.96% thereafter) due 7/22/2027(3) |
256,000 | 226,854 | ||||||
5.819% (5.819% fixed rate until 9/15/2028; SOFR + 1.57% thereafter) due 9/15/2029(3) |
148,000 | 146,267 | ||||||
Bank of America NA |
||||||||
5.526% due 8/18/2026 |
295,000 | 293,507 | ||||||
Bank of New York Mellon Corp. Series J |
||||||||
4.967% (4.967% fixed rate until 4/26/2033; SOFR + 1.61% thereafter) due 4/26/2034(3) |
214,000 | 197,257 | ||||||
Commonwealth Bank of Australia |
||||||||
5.071% due 9/14/2028(4) |
250,000 | 247,720 | ||||||
Credit Agricole SA |
||||||||
6.316% (6.316% fixed rate until 10/3/2028; SOFR + 1.86% thereafter) due 10/3/2029(3)(4) |
500,000 | 500,395 | ||||||
Credit Suisse AG |
||||||||
7.50% due 2/15/2028 |
500,000 | 523,285 | ||||||
Danske Bank AS |
||||||||
1.621% (1.621% fixed rate until 9/11/2025; 1 yr. CMT + 1.35% thereafter) due 9/11/2026(3)(4) |
256,000 | 233,029 | ||||||
6.259% (6.259% fixed rate until 9/22/2025; 1 yr. CMT + 1.18% thereafter) due 9/22/2026(3)(4) |
205,000 | 205,115 | ||||||
JPMorgan Chase & Co. |
||||||||
4.912% (4.912% fixed rate until 7/25/2032; SOFR + 2.08% thereafter) due 7/25/2033(3) |
107,000 | 98,445 | ||||||
5.35% (5.35% fixed rate until 6/1/2033; SOFR + 1.85% thereafter) due 6/1/2034(3) |
227,000 | 215,452 | ||||||
Morgan Stanley |
||||||||
1.928% (1.928% fixed rate until 4/28/2031; SOFR + 1.02% thereafter) due 4/28/2032(3) |
123,000 | 91,248 | ||||||
4.35% due 9/8/2026 |
268,000 | 255,538 | ||||||
UBS Group AG |
||||||||
6.301% (6.301% fixed rate until 9/22/2033; 1 yr. CMT + 2.00% thereafter) due 9/22/2034(3)(4) |
200,000 | 195,604 | ||||||
Wells Fargo & Co. |
||||||||
3.00% due 2/19/2025 |
88,000 | 84,532 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Commercial Banks (continued) |
||||||||
4.897% (4.897% fixed rate until 7/25/2032; SOFR + 2.10% thereafter) due 7/25/2033(3) |
$ | 229,000 | $ | 207,307 | ||||
|
|
|||||||
3,721,555 | ||||||||
|
|
|||||||
Commercial Services 0.3% |
||||||||
Ashtead Capital, Inc. |
||||||||
2.45% due 8/12/2031(4) |
400,000 | 302,584 | ||||||
ERAC USA Finance LLC |
||||||||
4.90% due 5/1/2033(4) |
236,000 | 221,158 | ||||||
5.40% due 5/1/2053(4) |
87,000 | 79,976 | ||||||
|
|
|||||||
603,718 | ||||||||
|
|
|||||||
Diversified Financial Services 0.7% |
||||||||
American Express Co. |
||||||||
5.043% (5.043% fixed rate until 5/1/2033; SOFR + 1.84% thereafter) due 5/1/2034(3) |
488,000 | 449,970 | ||||||
Capital One Financial Corp. |
||||||||
6.312% (6.312% fixed rate until 6/8/2028; SOFR + 2.64% thereafter) due 6/8/2029(3) |
125,000 | 122,195 | ||||||
6.377% (6.377% fixed rate until 6/8/2033; SOFR + 2.86% thereafter) due 6/8/2034(3) |
443,000 | 417,448 | ||||||
Intercontinental Exchange, Inc. |
||||||||
4.00% due 9/15/2027 |
4,000 | 3,785 | ||||||
4.35% due 6/15/2029 |
374,000 | 351,751 | ||||||
Nasdaq, Inc. |
||||||||
5.95% due 8/15/2053 |
25,000 | 23,352 | ||||||
6.10% due 6/28/2063 |
20,000 | 18,519 | ||||||
|
|
|||||||
1,387,020 | ||||||||
|
|
|||||||
Electric 1.2% |
||||||||
Alabama Power Co. |
||||||||
1.45% due 9/15/2030 |
18,000 | 13,751 | ||||||
Appalachian Power Co. |
||||||||
3.40% due 6/1/2025 |
118,000 | 113,148 | ||||||
Arizona Public Service Co. |
||||||||
3.75% due 5/15/2046 |
10,000 | 6,829 | ||||||
4.25% due 3/1/2049 |
28,000 | 20,223 | ||||||
4.35% due 11/15/2045 |
120,000 | 90,101 | ||||||
Dominion Energy, Inc. |
||||||||
3.375% due 4/1/2030 |
39,000 | 33,544 | ||||||
4.85% due 8/15/2052 |
75,000 | 60,511 | ||||||
5.375% due 11/15/2032 |
443,000 | 422,968 | ||||||
Duke Energy Corp. |
||||||||
2.65% due 9/1/2026 |
41,000 | 37,749 | ||||||
3.75% due 4/15/2024 |
132,000 | 130,409 | ||||||
Georgia Power Co. |
||||||||
4.70% due 5/15/2032 |
299,000 | 276,904 | ||||||
4.75% due 9/1/2040 |
38,000 | 32,094 | ||||||
5.125% due 5/15/2052 |
132,000 | 116,605 | ||||||
Metropolitan Edison Co. |
||||||||
5.20% due 4/1/2028(4) |
10,000 | 9,741 | ||||||
NextEra Energy Capital Holdings, Inc. |
||||||||
5.749% due 9/1/2025 |
85,000 | 84,748 | ||||||
Pacific Gas & Electric Co. |
||||||||
4.50% due 7/1/2040 |
434,100 | 323,005 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Electric (continued) |
||||||||
4.55% due 7/1/2030 |
$ | 205,150 | $ | 181,086 | ||||
6.75% due 1/15/2053 |
102,000 | 95,773 | ||||||
Pennsylvania Electric Co. |
||||||||
3.60% due 6/1/2029(4) |
34,000 | 30,255 | ||||||
5.15% due 3/30/2026(4) |
5,000 | 4,907 | ||||||
Southern California Edison Co. |
||||||||
3.70% due 8/1/2025 |
26,000 | 25,000 | ||||||
4.00% due 4/1/2047 |
29,000 | 20,997 | ||||||
4.65% due 10/1/2043 |
12,000 | 9,751 | ||||||
5.875% due 12/1/2053 |
115,000 | 108,341 | ||||||
Texas Electric Market Stabilization Funding LLC |
||||||||
4.265% due 8/1/2034(4) |
202,268 | 189,155 | ||||||
|
|
|||||||
2,437,595 | ||||||||
|
|
|||||||
Electronics 0.0% |
||||||||
Honeywell International, Inc. |
||||||||
4.25% due 1/15/2029 |
70,000 | 66,835 | ||||||
|
|
|||||||
66,835 | ||||||||
|
|
|||||||
Entertainment 0.1% |
||||||||
Warnermedia Holdings, Inc. |
||||||||
4.054% due 3/15/2029 |
184,000 | 164,132 | ||||||
|
|
|||||||
164,132 | ||||||||
|
|
|||||||
Gas 0.1% |
||||||||
Boston Gas Co. |
||||||||
3.15% due 8/1/2027(4) |
35,000 | 31,481 | ||||||
KeySpan Gas East Corp. |
||||||||
2.742% due 8/15/2026(4) |
162,000 | 147,532 | ||||||
Southern Co. Gas Capital Corp. |
||||||||
5.75% due 9/15/2033 |
105,000 | 103,096 | ||||||
|
|
|||||||
282,109 | ||||||||
|
|
|||||||
Healthcare-Products 0.1% |
||||||||
Alcon Finance Corp. |
||||||||
5.375% due 12/6/2032(4) |
200,000 | 193,360 | ||||||
|
|
|||||||
193,360 | ||||||||
|
|
|||||||
Healthcare-Services 0.2% |
||||||||
Bon Secours Mercy Health, Inc. |
||||||||
2.095% due 6/1/2031 |
200,000 | 155,762 | ||||||
Providence St. Joseph Health Obligated Group |
||||||||
5.403% due 10/1/2033 |
285,000 | 273,828 | ||||||
Sutter Health |
||||||||
2.294% due 8/15/2030 |
50,000 | 40,276 | ||||||
|
|
|||||||
469,866 | ||||||||
|
|
|||||||
Insurance 0.3% |
||||||||
Allstate Corp. |
||||||||
5.25% due 3/30/2033 |
65,000 | 61,340 | ||||||
American International Group, Inc. |
||||||||
3.40% due 6/30/2030 |
72,000 | 61,678 | ||||||
Athene Global Funding |
||||||||
2.50% due 3/24/2028(4) |
382,000 | 323,191 | ||||||
Corebridge Financial, Inc. |
||||||||
6.05% due 9/15/2033(4) |
60,000 | 58,453 | ||||||
Corebridge Global Funding |
||||||||
5.90% due 9/19/2028(4) |
35,000 | 34,928 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Insurance (continued) |
||||||||
Equitable Financial Life Global Funding |
||||||||
1.40% due 8/27/2027(4) |
$ | 162,000 | $ | 136,140 | ||||
|
|
|||||||
675,730 | ||||||||
|
|
|||||||
Machinery-Diversified 0.2% |
||||||||
John Deere Capital Corp. |
||||||||
Series I |
||||||||
5.15% due 9/8/2033 |
518,000 | 506,630 | ||||||
|
|
|||||||
506,630 | ||||||||
|
|
|||||||
Media 0.3% |
||||||||
Comcast Corp. |
||||||||
3.95% due 10/15/2025 |
620,000 | 601,512 | ||||||
|
|
|||||||
601,512 | ||||||||
|
|
|||||||
Mining 0.2% |
||||||||
Glencore Funding LLC |
||||||||
6.375% due 10/6/2030(4) |
470,000 | 468,454 | ||||||
|
|
|||||||
468,454 | ||||||||
|
|
|||||||
Oil & Gas 0.3% |
||||||||
Equinor ASA |
||||||||
3.00% due 4/6/2027 |
359,000 | 333,095 | ||||||
3.125% due 4/6/2030 |
24,000 | 21,213 | ||||||
Occidental Petroleum Corp. |
||||||||
6.20% due 3/15/2040 |
245,000 | 233,358 | ||||||
|
|
|||||||
587,666 | ||||||||
|
|
|||||||
Pharmaceuticals 0.1% |
||||||||
Pfizer Investment Enterprises Pte Ltd. |
||||||||
5.11% due 5/19/2043 |
245,000 | 224,964 | ||||||
|
|
|||||||
224,964 | ||||||||
|
|
|||||||
Pipelines 0.7% |
||||||||
Cheniere Energy Partners LP |
||||||||
4.00% due 3/1/2031 |
428,000 | 364,669 | ||||||
5.95% due 6/30/2033(4) |
80,000 | 77,164 | ||||||
Columbia Pipelines Operating Co. LLC |
||||||||
5.927% due 8/15/2030(4) |
45,000 | 44,320 | ||||||
6.497% due 8/15/2043(4) |
89,000 | 86,453 | ||||||
Eastern Gas Transmission & Storage, Inc. |
||||||||
3.60% due 12/15/2024 |
24,000 | 23,119 | ||||||
EIG Pearl Holdings SARL |
||||||||
3.545% due 8/31/2036(4) |
200,000 | 162,082 | ||||||
Energy Transfer LP |
||||||||
4.95% due 6/15/2028 |
12,000 | 11,462 | ||||||
Galaxy Pipeline Assets Bidco Ltd. |
||||||||
2.625% due 3/31/2036(4) |
245,000 | 190,632 | ||||||
Gray Oak Pipeline LLC |
||||||||
2.60% due 10/15/2025(4) |
85,000 | 78,368 | ||||||
3.45% due 10/15/2027(4) |
15,000 | 13,293 | ||||||
Greensaif Pipelines Bidco SARL |
||||||||
6.129% due 2/23/2038(4) |
200,000 | 195,686 | ||||||
6.51% due 2/23/2042(4) |
200,000 | 197,154 | ||||||
ONEOK, Inc. |
||||||||
5.65% due 11/1/2028 |
90,000 | 88,827 | ||||||
|
|
|||||||
1,533,229 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Real Estate Investment Trusts 0.5% |
||||||||
American Tower Trust I |
||||||||
5.49% due 3/15/2028(4) |
$ | 315,000 | $ | 308,605 | ||||
Extra Space Storage LP |
||||||||
5.50% due 7/1/2030 |
60,000 | 58,056 | ||||||
Realty Income Corp. |
||||||||
4.90% due 7/15/2033 |
613,000 | 559,767 | ||||||
|
|
|||||||
926,428 | ||||||||
|
|
|||||||
Semiconductors 0.1% |
||||||||
Broadcom, Inc. |
||||||||
3.469% due 4/15/2034(4) |
317,000 | 248,614 | ||||||
|
|
|||||||
248,614 | ||||||||
|
|
|||||||
Software 0.2% |
||||||||
Activision Blizzard, Inc. |
||||||||
4.50% due 6/15/2047 |
127,000 | 110,863 | ||||||
Oracle Corp. |
||||||||
3.65% due 3/25/2041 |
352,000 | 251,061 | ||||||
|
|
|||||||
361,924 | ||||||||
|
|
|||||||
Telecommunications 0.2% |
||||||||
AT&T, Inc. |
||||||||
3.65% due 6/1/2051 |
95,000 | 61,212 | ||||||
3.85% due 6/1/2060 |
19,000 | 12,096 | ||||||
4.30% due 12/15/2042 |
26,000 | 19,941 | ||||||
T-Mobile USA, Inc. |
||||||||
6.00% due 6/15/2054 |
243,000 | 232,046 | ||||||
|
|
|||||||
325,295 | ||||||||
|
|
|||||||
Trucking & Leasing 0.4% |
||||||||
DAE Funding LLC |
||||||||
1.55% due 8/1/2024(4) |
294,000 | 281,093 | ||||||
Penske Truck Leasing Co. LP/PTL Finance Corp. |
||||||||
3.95% due 3/10/2025(4) |
203,000 | 195,962 | ||||||
5.55% due 5/1/2028(4) |
130,000 | 125,870 | ||||||
5.70% due 2/1/2028(4) |
240,000 | 233,851 | ||||||
|
|
|||||||
836,776 | ||||||||
|
|
|||||||
Total Corporate Bonds & Notes |
17,944,113 | |||||||
|
|
|||||||
Municipals 0.7% |
||||||||
Chicago Transit Authority Sales & Transfer Tax Receipts Revenue |
||||||||
Series A |
||||||||
6.899% due 12/1/2040 |
50,000 | 54,059 | ||||||
Dallas Fort Worth International Airport |
||||||||
Series A |
||||||||
4.087% due 11/1/2051 |
100,000 | 78,868 | ||||||
Metropolitan Transportation Authority |
||||||||
Series C2 |
||||||||
5.175% due 11/15/2049 |
105,000 | 90,403 | ||||||
Municipal Electric Authority of Georgia |
||||||||
6.637% due 4/1/2057 |
148,000 | 155,736 | ||||||
Regents of the University of California Medical Center Pooled Revenue |
||||||||
3.006% due 5/15/2050 |
125,000 | 79,077 | ||||||
State of Illinois |
||||||||
5.10% due 6/1/2033 |
740,000 | 702,294 | ||||||
Texas Natural Gas Securitization Finance Corp. |
||||||||
5.102% due 4/1/2035 |
120,000 | 117,740 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Municipals (continued) |
||||||||
5.169% due 4/1/2041 |
$ | 90,000 | $ | 86,089 | ||||
|
|
|||||||
Total Municipals |
1,364,266 | |||||||
|
|
|||||||
NonAgency MortgageBacked Securities 0.9% |
||||||||
BX Commercial Mortgage Trust |
||||||||
Series 2021-VOLT, Class A |
||||||||
6.147% due 9/15/2036(2)(3)(4) |
100,000 | 97,320 | ||||||
Fannie Mae REMICS |
||||||||
Series 2013-36, Class Z |
||||||||
3.00% due 4/25/2043 |
240,990 | 208,925 | ||||||
Series 2013-83, Class NZ |
||||||||
3.50% due 8/25/2043 |
243,332 | 216,495 | ||||||
Series 2020-27, Class HC |
||||||||
1.50% due 10/25/2049 |
401,926 | 298,294 | ||||||
Freddie Mac REMICS |
||||||||
Series 3967, Class ZP |
||||||||
4.00% due 9/15/2041 |
263,254 | 242,833 | ||||||
Series 5170, Class DP |
||||||||
2.00% due 7/25/2050 |
246,932 | 202,379 | ||||||
Ginnie Mae REMICS |
||||||||
Series 2021-215, Class KA |
||||||||
2.50% due 10/20/2049 |
297,137 | 246,141 | ||||||
Stack Infrastructure Issuer LLC |
||||||||
Series 2023-2A, Class A2 |
||||||||
5.90% due 7/25/2048(4) |
340,000 | 326,609 | ||||||
|
|
|||||||
Total NonAgency MortgageBacked Securities |
1,838,996 | |||||||
|
|
|||||||
U.S. Government Securities 14.4% |
||||||||
U.S. Treasury Bonds |
||||||||
2.25% due 2/15/2052 |
1,253,700 | 769,850 | ||||||
2.375% due 2/15/2042 |
1,810,000 | 1,251,163 | ||||||
2.875% due 5/15/2052 |
35,100 | 24,899 | ||||||
3.25% due 5/15/2042 |
25,000 | 19,934 | ||||||
3.375% due 8/15/2042 |
129,600 | 105,098 | ||||||
3.625% due 2/15/2053 |
957,800 | 792,729 | ||||||
3.625% due 5/15/2053 |
890,900 | 737,916 | ||||||
3.875% due 2/15/2043 |
1,505,800 | 1,311,222 | ||||||
3.875% due 5/15/2043 |
820,300 | 713,405 | ||||||
4.00% due 11/15/2042 |
976,900 | 867,609 | ||||||
4.00% due 11/15/2052 |
1,105,100 | 979,913 | ||||||
4.125% due 8/15/2053 |
205,100 | 186,256 | ||||||
4.375% due 8/15/2043 |
205,000 | 191,355 | ||||||
U.S. Treasury Notes |
||||||||
2.50% due 4/30/2024 |
1,266,300 | 1,244,634 | ||||||
2.625% due 4/15/2025 |
1,575,000 | 1,514,584 | ||||||
2.625% due 5/31/2027 |
210,000 | 195,234 | ||||||
2.75% due 4/30/2027 |
2,092,500 | 1,956,651 | ||||||
2.75% due 7/31/2027 |
195,000 | 181,639 | ||||||
2.875% due 4/30/2029 |
20,000 | 18,263 | ||||||
3.125% due 8/15/2025 |
260,000 | 250,809 | ||||||
3.125% due 8/31/2027 |
269,000 | 253,890 | ||||||
3.25% due 6/30/2029 |
100,000 | 92,930 | ||||||
3.50% due 9/15/2025 |
300,000 | 291,176 | ||||||
3.50% due 1/31/2028 |
80,300 | 76,661 | ||||||
3.50% due 4/30/2028 |
697,000 | 664,328 | ||||||
3.50% due 4/30/2030 |
70,000 | 65,516 | ||||||
3.625% due 5/15/2026 |
924,000 | 895,630 | ||||||
3.625% due 3/31/2028 |
113,000 | 108,339 | ||||||
3.625% due 5/31/2028 |
204,000 | 195,521 | ||||||
3.75% due 4/15/2026 |
575,000 | 559,188 | ||||||
3.75% due 5/31/2030 |
78,000 | 74,051 | ||||||
3.75% due 6/30/2030 |
247,000 | 234,418 | ||||||
3.875% due 3/31/2025 |
831,000 | 814,412 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
U.S. Government Securities (continued) |
| |||||||
3.875% due 4/30/2025 |
$ | 1,520,000 | $ | 1,488,828 | ||||
3.875% due 11/30/2027 |
889,000 | 861,774 | ||||||
3.875% due 12/31/2027 |
219,600 | 212,875 | ||||||
3.875% due 12/31/2029 |
237,100 | 227,153 | ||||||
3.875% due 8/15/2033 |
902,300 | 852,533 | ||||||
4.00% due 12/15/2025 |
482,000 | 471,946 | ||||||
4.00% due 2/29/2028 |
557,400 | 542,986 | ||||||
4.00% due 6/30/2028 |
916,000 | 891,526 | ||||||
4.00% due 10/31/2029 |
257,000 | 248,125 | ||||||
4.00% due 7/31/2030 |
57,200 | 55,100 | ||||||
4.125% due 9/30/2027 |
423,400 | 414,568 | ||||||
4.125% due 10/31/2027 |
519,000 | 508,012 | ||||||
4.125% due 7/31/2028 |
803,200 | 785,818 | ||||||
4.25% due 5/31/2025 |
600,000 | 591,023 | ||||||
4.375% due 8/15/2026 |
135,000 | 133,313 | ||||||
4.375% due 8/31/2028 |
1,513,700 | 1,498,563 | ||||||
4.50% due 7/15/2026 |
275,000 | 272,443 | ||||||
4.625% due 2/28/2025 |
389,400 | 385,825 | ||||||
4.625% due 3/15/2026 |
40,000 | 39,719 | ||||||
4.625% due 9/15/2026 |
198,000 | 197,025 | ||||||
4.625% due 9/30/2028 |
906,000 | 906,518 | ||||||
4.75% due 7/31/2025 |
20,000 | 19,866 | ||||||
5.00% due 8/31/2025 |
680,000 | 678,566 | ||||||
|
|
|||||||
Total U.S. Government Securities |
|
29,923,328 | ||||||
|
|
|||||||
U.S. Treasury Bills 0.8% |
| |||||||
U.S. Treasury Bills |
||||||||
4.561% due 10/12/2023(5) |
650,000 | 649,047 | ||||||
4.927% due 10/19/2023(5) |
227,500 | 226,931 | ||||||
5.523% due 8/8/2024(5) |
700,000 | 668,464 | ||||||
|
|
|||||||
Total U.S. Treasury Bills |
|
1,544,442 | ||||||
|
|
|||||||
Shares | Value | |||||||
ExchangeTraded Funds 0.2% |
| |||||||
SPDR S&P 500 ETF Trust |
1,010 | 431,755 | ||||||
|
|
|||||||
Total ExchangeTraded Funds |
|
431,755 | ||||||
|
|
|||||||
Principal Amount |
Value | |||||||
Repurchase Agreements 0.4% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $871,638, due 10/2/2023(6) |
$ | 871,522 | 871,522 | |||||
|
|
|||||||
Total Repurchase Agreements |
|
871,522 | ||||||
|
|
|||||||
Total Investments 100.5% |
|
208,758,187 | ||||||
|
|
|||||||
Liabilities in excess of other assets (0.5)% |
|
(979,404 | ) | |||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 207,778,783 | |||||
|
|
(1) | Nonincomeproducing security. |
(2) | Variable coupon rate based on weighted average interest rate of underlying mortgages. |
(3) | Variable rate securities, which may include step-up bonds or adjustable rate mortgages. The rate shown is the rate in effect at September 30, 2023. |
(4) | 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 September 30, 2023, the aggregate market value of these securities amounted to $8,673,597, representing 4.2% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Funds liquidity procedures approved by the Board of Trustees. |
(5) | Interest rate shown reflects the discount rate at time of purchase. |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
(6) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 984,200 | $ | 888,983 |
Open futures contracts at September 30, 2023:
Type |
Expiration | Contracts | Position | Notional Amount |
Notional Value |
Unrealized Depreciation |
||||||||||||||||
U.S. 2-Year Treasury Note |
December 2023 | 3 | Long | $ | 610,051 | $ | 608,133 | $ | (1,918 | ) | ||||||||||||
U.S. 5-Year Treasury Note |
December 2023 | 25 | Long | 2,654,341 | 2,633,984 | (20,357 | ) | |||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Total |
|
$ | 3,264,392 | $ | 3,242,117 | $ | (22,275 | ) | ||||||||||||||
|
|
|
|
|
|
Type |
Expiration | Contracts | Position | Notional Amount |
Notional Value |
Unrealized Appreciation |
||||||||||||||||||
U.S. Ultra 10-Year Treasury Note |
December 2023 | 4 | Short | $ | (459,473) | $ | (446,250) | $ | 13,223 | |||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||
Total |
$ | (459,473) | $ | (446,250) | $ | 13,223 | ||||||||||||||||||
|
|
|
|
|
|
Legend:
ADR American Depositary Receipt
CMT Constant Maturity Treasury
REITs Real Estate Investment Trusts
REMIC Real Estate Mortgage Investment Conduit
SOFR Secured Overnight Financing Rate
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN BALANCED ALLOCATION VIP FUND
The following is a summary of the inputs used as of September 30, 2023 in valuing the Funds 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 |
$ | 134,483,677 | $ | | $ | | $ | 134,483,677 | ||||||||
Agency MortgageBacked Securities |
| 18,318,147 | | 18,318,147 | ||||||||||||
AssetBacked Securities |
| 2,037,941 | | 2,037,941 | ||||||||||||
Corporate Bonds & Notes |
| 17,944,113 | | 17,944,113 | ||||||||||||
Municipals |
| 1,364,266 | | 1,364,266 | ||||||||||||
NonAgency MortgageBacked Securities |
| 1,838,996 | | 1,838,996 | ||||||||||||
U.S. Government Securities |
| 29,923,328 | | 29,923,328 | ||||||||||||
U.S. Treasury Bills |
| 1,544,442 | | 1,544,442 | ||||||||||||
ExchangeTraded Funds |
431,755 | | | 431,755 | ||||||||||||
Repurchase Agreements |
| 871,522 | | 871,522 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 134,915,432 | $ | 73,842,755 | $ | | $ | 208,758,187 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Other Financial Instruments |
| |||||||||||||||
Futures Contracts |
|
|||||||||||||||
Assets |
$ | 13,223 | $ | | $ | | $ | 13,223 | ||||||||
Liabilities |
(22,275 | ) | | | (22,275 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | (9,052 | ) | $ | | $ | | $ | (9,052 | ) | ||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Agency MortgageBacked Securities 10.1% |
| |||||||
Federal Home Loan Mortgage Corp. |
||||||||
3.00% due 3/1/2052 |
$ | 2,677,723 | $ | 2,218,332 | ||||
3.50% due 6/1/2052 |
6,507,580 | 5,594,279 | ||||||
4.00% due 10/1/2037 |
423,299 | 399,345 | ||||||
4.00% due 6/1/2052 |
3,096,808 | 2,760,437 | ||||||
4.50% due 8/1/2052 |
3,796,004 | 3,485,144 | ||||||
4.50% due 9/1/2052 |
472,671 | 433,880 | ||||||
6.00% due 8/1/2053 |
2,097,442 | 2,071,182 | ||||||
Federal National Mortgage Association |
||||||||
3.00% due 7/1/2051 |
3,523,642 | 2,918,624 | ||||||
3.00% due 5/1/2052 |
9,519,790 | 7,884,715 | ||||||
3.50% due 6/1/2052 |
4,847,030 | 4,171,149 | ||||||
3.50% due 9/1/2052 |
3,757,959 | 3,241,139 | ||||||
3.50% due 10/1/2052 |
3,937,987 | 3,385,029 | ||||||
4.00% due 6/1/2052 |
4,799,138 | 4,277,861 | ||||||
|
|
|||||||
Total Agency MortgageBacked Securities |
42,841,116 | |||||||
|
|
|||||||
AssetBacked Securities 21.2% |
||||||||
Aligned Data Centers Issuer LLC |
||||||||
Series 2021-1A, Class A2 |
||||||||
1.937% due 8/15/2046(1) |
2,016,000 | 1,763,597 | ||||||
Allegro CLO VI Ltd. |
||||||||
Series 2017-2A, Class B |
||||||||
7.07% (3 mo. USD Term SOFR + 1.76%) due 1/17/2031(1)(2) |
2,000,000 | 1,969,800 | ||||||
Ally Auto Receivables Trust |
||||||||
Series 2022-1, Class A3 |
||||||||
3.31% due 11/15/2026 |
3,850,000 | 3,762,098 | ||||||
AmeriCredit Automobile Receivables Trust |
||||||||
Series 2020-3, Class C |
||||||||
1.06% due 8/18/2026 |
2,625,000 | 2,498,063 | ||||||
Anchorage Capital CLO 17 Ltd. |
||||||||
Series 2021-17A, Class A1 |
||||||||
6.74% (3 mo. USD Term SOFR + 1.43%) due 7/15/2034(1)(2) |
2,800,000 | 2,769,200 | ||||||
Anchorage Capital CLO 21 Ltd. |
||||||||
Series 2021-21A, Class B |
||||||||
7.338% (3 mo. USD Term SOFR + 2.01%) due 10/20/2034(1)(2) |
1,750,000 | 1,724,450 | ||||||
Ares XXVII CLO Ltd. |
||||||||
Series 2013-2A, Class BR2 |
||||||||
7.277% (3 mo. USD Term SOFR + 1.91%) due 10/28/2034(1)(2) |
2,000,000 | 1,976,512 | ||||||
Ares XXVIIIR CLO Ltd. |
||||||||
Series 2018-28RA, Class A2 |
||||||||
6.97% (3 mo. USD Term SOFR + 1.66%) due 10/17/2030(1)(2) |
2,400,000 | 2,364,828 | ||||||
Avis Budget Rental Car Funding AESOP LLC |
||||||||
Series 2019-3A, Class A |
||||||||
2.36% due 3/20/2026(1) |
2,440,000 | 2,322,370 | ||||||
Barings CLO Ltd. |
||||||||
Series 2020-1A, Class AR |
||||||||
6.72% (3 mo. USD Term SOFR + 1.41%) due 10/15/2036(1)(2) |
2,800,000 | 2,781,601 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
AssetBacked Securities (continued) |
||||||||
Battery Park CLO II Ltd. |
||||||||
Series 2022-1A, Class A1 |
||||||||
7.536% (3 mo. USD Term SOFR + 2.21%) due 10/20/2035(1)(2) |
$ | 3,550,000 | $ | 3,565,265 | ||||
Benefit Street Partners CLO XVI Ltd. |
||||||||
Series 2018-16A, Class BR |
||||||||
7.12% (3 mo. USD Term SOFR + 1.81%) due 1/17/2032(1)(2) |
2,800,000 | 2,755,480 | ||||||
Canyon Capital CLO Ltd. |
||||||||
Series 2022-1A, Class B |
||||||||
7.16% (3 mo. USD Term SOFR + 1.85%) due 4/15/2035(1)(2) |
2,000,000 | 1,963,874 | ||||||
CarMax Auto Owner Trust |
||||||||
Series 2020-4, Class B |
||||||||
0.85% due 6/15/2026 |
2,200,000 | 2,063,434 | ||||||
Cathedral Lake VI Ltd. |
||||||||
Series 2021-6A, Class AN |
||||||||
6.863% (3 mo. USD Term SOFR + 1.51%) due 4/25/2034(1)(2) |
2,500,000 | 2,482,028 | ||||||
CIFC Funding Ltd. |
||||||||
Series 2013-4A, Class BRR |
||||||||
7.219% (3 mo. USD Term SOFR + 1.86%) due 4/27/2031(1)(2) |
2,000,000 | 1,974,600 | ||||||
Dryden 80 CLO Ltd. |
||||||||
Series 2019-80A, Class AR |
||||||||
6.558% (3 mo. USD Term SOFR + 1.25%) due 1/17/2033(1)(2) |
3,350,000 | 3,327,890 | ||||||
Dryden Senior Loan Fund |
||||||||
Series 2017-47A, Class CR |
||||||||
7.62% (3 mo. USD Term SOFR + 2.31%) due 4/15/2028(1)(2) |
2,100,000 | 2,094,120 | ||||||
Exeter Automobile Receivables Trust |
||||||||
Series 2022-2A, Class A3 |
||||||||
2.80% due 11/17/2025 |
351,020 | 350,600 | ||||||
Ford Credit Auto Owner Trust |
||||||||
Series 2020-1, Class A |
||||||||
2.04% due 8/15/2031(1) |
2,400,000 | 2,274,798 | ||||||
GM Financial Consumer Automobile Receivables Trust |
||||||||
Series 2020-4, Class A4 |
||||||||
0.50% due 2/17/2026 |
3,579,000 | 3,421,887 | ||||||
Gulf Stream Meridian 6 Ltd. |
||||||||
Series 2021-6A, Class A1 |
||||||||
6.76% (3 mo. USD Term SOFR + 1.45%) due 1/15/2037(1)(2) |
1,800,000 | 1,788,120 | ||||||
Hertz Vehicle Financing III LLC |
||||||||
Series 2022-3A, Class A |
||||||||
3.37% due 3/25/2025(1) |
2,140,000 | 2,124,899 | ||||||
Hyundai Auto Lease Securitization Trust |
||||||||
Series 2022-B, Class A3 |
||||||||
3.35% due 6/16/2025(1) |
2,800,000 | 2,768,495 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
AssetBacked Securities (continued) |
||||||||
ICG U.S. CLO Ltd. |
||||||||
Series 2022-1A, Class A1 |
||||||||
6.866% (3 mo. USD Term SOFR + 1.54%) due 7/20/2035(1)(2) |
$ | 2,500,000 | $ | 2,485,500 | ||||
Jamestown CLO XI Ltd. |
||||||||
Series 2018-11A, Class A2 |
||||||||
7.273% (3 mo. USD Term SOFR + 1.96%) due 7/14/2031(1)(2) |
2,800,000 | 2,772,000 | ||||||
KKR CLO 38 Ltd. |
||||||||
Series 38A, Class A1 |
||||||||
6.628% (3 mo. USD Term SOFR + 1.32%) due 4/15/2033(1)(2) |
2,800,000 | 2,769,948 | ||||||
Master Credit Card Trust |
||||||||
Series 2021-1A, Class A |
||||||||
0.53% due 11/21/2025(1) |
3,120,000 | 3,013,368 | ||||||
Neuberger Berman Loan Advisers CLO 26 Ltd. |
||||||||
Series 2017-26A, Class BR |
||||||||
6.972% (3 mo. USD Term SOFR + 1.66%) due 10/18/2030(1)(2) |
1,050,000 | 1,033,935 | ||||||
Neuberger Berman Loan Advisers CLO 40 Ltd. |
||||||||
Series 2021-40A, Class A |
||||||||
6.63% (3 mo. USD Term SOFR + 1.32%) due 4/16/2033(1)(2) |
2,900,000 | 2,880,280 | ||||||
Nissan Auto Lease Trust |
||||||||
Series 2023-A, Class A4 |
||||||||
4.80% due 7/15/2027 |
1,600,000 | 1,575,367 | ||||||
OHA Credit Partners XIV Ltd. |
||||||||
Series 2017-14A, Class B |
||||||||
7.095% (3 mo. USD Term SOFR + 1.76%) due 1/21/2030(1)(2) |
2,000,000 | 1,969,800 | ||||||
Oscar U.S. Funding XV LLC |
||||||||
Series 2023-1A, Class A3 |
||||||||
5.81% due 12/10/2027(1) |
1,300,000 | 1,291,524 | ||||||
PPM CLO 2 Ltd. |
||||||||
Series 2019-2A, Class BR |
||||||||
7.332% (3 mo. USD Term SOFR + 2.01%) due 4/16/2032(1)(2) |
2,500,000 | 2,466,250 | ||||||
Santander Drive Auto Receivables Trust |
||||||||
Series 2022-3, Class A3 |
||||||||
3.40% due 12/15/2026 |
1,950,196 | 1,930,519 | ||||||
TCW CLO Ltd. |
||||||||
Series 2021-1A, Class A |
||||||||
6.758% (3 mo. USD Term SOFR + 1.43%) due 3/18/2034(1)(2) |
850,000 | 839,290 | ||||||
TIAA CLO IV Ltd. |
||||||||
Series 2018-1A, Class A2 |
||||||||
7.288% (3 mo. USD Term SOFR + 1.96%) due 1/20/2032(1)(2) |
1,240,000 | 1,222,640 | ||||||
Toyota Auto Loan Extended Note Trust |
||||||||
Series 2021-1A, Class A |
||||||||
1.07% due 2/27/2034(1) |
2,175,000 | 1,947,811 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
AssetBacked Securities (continued) |
||||||||
Verizon Owner Trust |
||||||||
Series 2020-C, Class A |
||||||||
0.41% due 4/21/2025 |
$ | 218,331 | $ | 217,066 | ||||
Voya CLO Ltd. |
||||||||
Series 2015-3A, Class A3R |
||||||||
7.288% (3 mo. USD Term SOFR + 1.96%) due 10/20/2031(1)(2) |
2,000,000 | 1,985,914 | ||||||
World Omni Auto Receivables Trust |
||||||||
Series 2021-B, Class A4 |
||||||||
0.69% due 6/15/2027 |
2,800,000 | 2,571,179 | ||||||
|
|
|||||||
Total AssetBacked Securities |
89,860,400 | |||||||
|
|
|||||||
Corporate Bonds & Notes 22.6% |
||||||||
Aerospace & Defense 0.4% |
||||||||
Lockheed Martin Corp. |
||||||||
4.75% due 2/15/2034 |
1,500,000 | 1,420,335 | ||||||
5.20% due 2/15/2055 |
400,000 | 370,004 | ||||||
|
|
|||||||
1,790,339 | ||||||||
|
|
|||||||
Agriculture 0.3% |
||||||||
BAT Capital Corp. |
||||||||
6.343% due 8/2/2030 |
1,300,000 | 1,280,344 | ||||||
|
|
|||||||
1,280,344 | ||||||||
|
|
|||||||
Beverages 0.7% |
||||||||
Anheuser-Busch InBev Worldwide, Inc. |
||||||||
3.50% due 6/1/2030 |
2,200,000 | 1,958,682 | ||||||
5.55% due 1/23/2049 |
900,000 | 864,297 | ||||||
|
|
|||||||
2,822,979 | ||||||||
|
|
|||||||
Biotechnology 0.2% |
||||||||
Gilead Sciences, Inc. |
||||||||
5.25% due 10/15/2033 |
700,000 | 683,739 | ||||||
|
|
|||||||
683,739 | ||||||||
|
|
|||||||
Chemicals 0.2% |
||||||||
Nutrien Ltd. |
||||||||
2.95% due 5/13/2030 |
800,000 | 668,280 | ||||||
|
|
|||||||
668,280 | ||||||||
|
|
|||||||
Commercial Banks 5.7% |
||||||||
Bank of America Corp. |
||||||||
4.271% (4.271% fixed rate until 7/23/2028; 3 mo. USD Term SOFR + 1.57% thereafter) due 7/23/2029(2) |
6,100,000 | 5,619,076 | ||||||
Barclays PLC |
||||||||
2.645% (2.645% fixed rate until 6/24/2030; 1 yr. CMT + 1.90% thereafter) due 6/24/2031(2) |
800,000 | 618,088 | ||||||
4.972% (4.972% fixed rate until 5/16/2028; SOFR + 2.25% thereafter) due 5/16/2029(2) |
1,600,000 | 1,495,408 | ||||||
BNP Paribas SA |
||||||||
2.159% (2.159% fixed rate until 9/15/2028; SOFR + 1.22% thereafter) due 9/15/2029(1)(2) |
1,500,000 | 1,236,030 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Commercial Banks (continued) |
||||||||
Deutsche Bank AG |
||||||||
2.311% (2.311% fixed rate until 11/16/2026; SOFR + 1.22% thereafter) due 11/16/2027(2) |
$ | 3,900,000 | $ | 3,396,627 | ||||
Discover Bank |
||||||||
5.974% (5 yr. USD Swap + 1.73%) due 8/9/2028(2) |
800,000 | 731,136 | ||||||
Fifth Third Bank NA |
||||||||
2.25% due 2/1/2027 |
3,000,000 | 2,626,980 | ||||||
Huntington Bancshares, Inc. |
||||||||
6.208% (6.208% fixed rate until 8/21/2028; SOFR + 2.02% thereafter) due 8/21/2029(2) |
1,000,000 | 979,080 | ||||||
Huntington National Bank |
||||||||
4.552% (4.552% fixed rate until 5/17/2027; SOFR + 1.65% thereafter) due 5/17/2028(2) |
1,400,000 | 1,307,768 | ||||||
JPMorgan Chase & Co. |
||||||||
1.578% (1.578% fixed rate until 4/22/2026; SOFR + 0.89% thereafter) due 4/22/2027(2) |
1,300,000 | 1,159,574 | ||||||
Morgan Stanley |
||||||||
5.123% (5.123% fixed rate until 2/1/2028; SOFR + 1.73% thereafter) due 2/1/2029(2) |
2,000,000 | 1,926,880 | ||||||
5.424% (5.424% fixed rate until 7/21/2033; SOFR + 1.88% thereafter) due 7/21/2034(2) |
600,000 | 566,814 | ||||||
NatWest Group PLC |
||||||||
5.808% (5.808% fixed rate until 9/13/2028; 1 yr. CMT + 1.95% thereafter) due 9/13/2029(2) |
2,500,000 | 2,424,875 | ||||||
|
|
|||||||
24,088,336 | ||||||||
|
|
|||||||
Commercial Services 0.1% |
||||||||
S&P Global, Inc. |
||||||||
5.25% due 9/15/2033(1) |
600,000 | 585,084 | ||||||
|
|
|||||||
585,084 | ||||||||
|
|
|||||||
Computers 0.3% |
||||||||
Apple, Inc. |
||||||||
2.65% due 2/8/2051 |
500,000 | 303,350 | ||||||
3.25% due 8/8/2029 |
100,000 | 91,218 | ||||||
3.35% due 8/8/2032 |
1,000,000 | 881,120 | ||||||
|
|
|||||||
1,275,688 | ||||||||
|
|
|||||||
Diversified Financial Services 1.4% |
||||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust |
||||||||
3.00% due 10/29/2028 |
2,750,000 | 2,354,440 | ||||||
Air Lease Corp. |
||||||||
5.30% due 2/1/2028 |
1,000,000 | 966,590 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Diversified Financial Services (continued) |
||||||||
Charles Schwab Corp. |
||||||||
6.136% (6.136% fixed rate until 8/24/2033; SOFR + 2.01% thereafter) due 8/24/2034(2) |
$ | 700,000 | $ | 679,504 | ||||
Jefferies Financial Group, Inc. |
||||||||
5.875% due 7/21/2028 |
1,100,000 | 1,076,229 | ||||||
Mastercard, Inc. |
||||||||
4.85% due 3/9/2033 |
700,000 | 674,142 | ||||||
|
|
|||||||
5,750,905 | ||||||||
|
|
|||||||
Electric 1.8% |
||||||||
Alabama Power Co. |
||||||||
3.94% due 9/1/2032 |
1,000,000 | 880,850 | ||||||
Duke Energy Carolinas LLC |
||||||||
4.95% due 1/15/2033 |
1,000,000 | 951,160 | ||||||
Duke Energy Corp. |
||||||||
3.50% due 6/15/2051 |
950,000 | 613,709 | ||||||
5.00% due 8/15/2052 |
400,000 | 332,032 | ||||||
Eversource Energy |
||||||||
5.125% due 5/15/2033 |
900,000 | 838,503 | ||||||
Exelon Corp. |
||||||||
5.60% due 3/15/2053 |
400,000 | 364,136 | ||||||
PPL Electric Utilities Corp. |
||||||||
5.00% due 5/15/2033 |
400,000 | 381,216 | ||||||
5.25% due 5/15/2053 |
700,000 | 637,427 | ||||||
Public Service Electric & Gas Co. |
||||||||
4.65% due 3/15/2033 |
1,000,000 | 939,620 | ||||||
5.45% due 8/1/2053 |
300,000 | 285,357 | ||||||
Southern Co. |
||||||||
5.70% due 3/15/2034 |
400,000 | 392,956 | ||||||
Wisconsin Public Service Corp. |
||||||||
2.85% due 12/1/2051 |
400,000 | 233,484 | ||||||
Xcel Energy, Inc. |
||||||||
5.45% due 8/15/2033 |
1,000,000 | 954,970 | ||||||
|
|
|||||||
7,805,420 | ||||||||
|
|
|||||||
Electronics 0.1% |
||||||||
Honeywell International, Inc. |
||||||||
1.95% due 6/1/2030 |
800,000 | 646,640 | ||||||
|
|
|||||||
646,640 | ||||||||
|
|
|||||||
Environmental Control 0.5% |
||||||||
Waste Management, Inc. |
||||||||
4.15% due 4/15/2032 |
2,400,000 | 2,184,504 | ||||||
|
|
|||||||
2,184,504 | ||||||||
|
|
|||||||
Food 0.4% |
||||||||
Kroger Co. |
||||||||
1.70% due 1/15/2031 |
800,000 | 601,680 | ||||||
Pilgrims Pride Corp. |
||||||||
3.50% due 3/1/2032 |
1,400,000 | 1,083,754 | ||||||
|
|
|||||||
1,685,434 | ||||||||
|
|
|||||||
Gas 0.1% |
||||||||
CenterPoint Energy Resources Corp. |
||||||||
5.40% due 3/1/2033 |
600,000 | 577,548 | ||||||
|
|
|||||||
577,548 | ||||||||
|
|
|||||||
Healthcare-Services 0.6% |
||||||||
Elevance Health, Inc. |
||||||||
4.75% due 2/15/2033 |
800,000 | 744,576 | ||||||
5.125% due 2/15/2053 |
200,000 | 177,424 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Healthcare-Services (continued) |
||||||||
UnitedHealth Group, Inc. |
||||||||
2.30% due 5/15/2031 |
$ | 1,700,000 | $ | 1,370,387 | ||||
5.875% due 2/15/2053 |
400,000 | 401,604 | ||||||
|
|
|||||||
2,693,991 | ||||||||
|
|
|||||||
Insurance 1.1% |
||||||||
Athene Holding Ltd. |
||||||||
3.50% due 1/15/2031 |
900,000 | 731,997 | ||||||
Hartford Financial Services Group, Inc. |
||||||||
2.80% due 8/19/2029 |
1,700,000 | 1,457,903 | ||||||
MetLife, Inc. |
||||||||
5.25% due 1/15/2054 |
600,000 | 534,678 | ||||||
5.375% due 7/15/2033 |
400,000 | 384,256 | ||||||
Progressive Corp. |
||||||||
4.20% due 3/15/2048 |
100,000 | 78,828 | ||||||
4.95% due 6/15/2033 |
1,200,000 | 1,140,840 | ||||||
Prudential Financial, Inc. |
||||||||
3.70% due 3/13/2051 |
200,000 | 138,994 | ||||||
5.75% due 7/15/2033 |
200,000 | 201,640 | ||||||
|
|
|||||||
4,669,136 | ||||||||
|
|
|||||||
Machinery-Diversified 0.2% |
||||||||
John Deere Capital Corp. |
||||||||
Series I |
||||||||
5.15% due 9/8/2033 |
800,000 | 782,440 | ||||||
|
|
|||||||
782,440 | ||||||||
|
|
|||||||
Media 0.2% |
||||||||
Charter Communications Operating LLC/Charter Communications Operating Capital |
||||||||
2.25% due 1/15/2029 |
500,000 | 407,645 | ||||||
Comcast Corp. |
||||||||
1.95% due 1/15/2031 |
410,000 | 320,575 | ||||||
|
|
|||||||
728,220 | ||||||||
|
|
|||||||
Miscellaneous Manufacturing 0.2% |
||||||||
Parker-Hannifin Corp. |
||||||||
4.00% due 6/14/2049 |
300,000 | 228,045 | ||||||
4.50% due 9/15/2029 |
800,000 | 756,416 | ||||||
|
|
|||||||
984,461 | ||||||||
|
|
|||||||
Oil & Gas 1.0% |
||||||||
BP Capital Markets America, Inc. |
||||||||
4.812% due 2/13/2033 |
2,600,000 | 2,435,056 | ||||||
Cenovus Energy, Inc. |
||||||||
2.65% due 1/15/2032 |
500,000 | 388,585 | ||||||
Occidental Petroleum Corp. |
||||||||
7.50% due 5/1/2031 |
1,500,000 | 1,586,250 | ||||||
|
|
|||||||
4,409,891 | ||||||||
|
|
|||||||
Oil & Gas Services 0.3% |
||||||||
Schlumberger Investment SA |
||||||||
4.85% due 5/15/2033 |
1,400,000 | 1,320,396 | ||||||
|
|
|||||||
1,320,396 | ||||||||
|
|
|||||||
Pharmaceuticals 1.9% |
||||||||
AbbVie, Inc. |
||||||||
3.20% due 11/21/2029 |
1,000,000 | 882,290 | ||||||
4.55% due 3/15/2035 |
1,400,000 | 1,273,454 | ||||||
CVS Health Corp. |
||||||||
5.30% due 6/1/2033 |
2,000,000 | 1,894,800 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Pharmaceuticals (continued) |
||||||||
5.875% due 6/1/2053 |
$ | 900,000 | $ | 833,130 | ||||
Pfizer Investment Enterprises Pte. Ltd. |
||||||||
4.75% due 5/19/2033 |
3,000,000 | 2,842,800 | ||||||
5.30% due 5/19/2053 |
500,000 | 464,390 | ||||||
|
|
|||||||
8,190,864 | ||||||||
|
|
|||||||
Pipelines 0.7% |
||||||||
Cheniere Energy Partners LP |
||||||||
5.95% due 6/30/2033(1) |
1,400,000 | 1,350,370 | ||||||
Energy Transfer LP |
||||||||
3.75% due 5/15/2030 |
900,000 | 784,593 | ||||||
Western Midstream Operating LP |
||||||||
6.15% due 4/1/2033 |
1,100,000 | 1,061,676 | ||||||
|
|
|||||||
3,196,639 | ||||||||
|
|
|||||||
Real Estate Investment Trusts 0.6% |
||||||||
American Tower Corp. |
||||||||
5.65% due 3/15/2033 |
1,000,000 | 960,350 | ||||||
Extra Space Storage LP |
||||||||
5.50% due 7/1/2030 |
1,500,000 | 1,451,385 | ||||||
|
|
|||||||
2,411,735 | ||||||||
|
|
|||||||
Retail 0.4% |
||||||||
Lowes Cos., Inc. |
||||||||
5.15% due 7/1/2033 |
1,400,000 | 1,330,686 | ||||||
5.625% due 4/15/2053 |
200,000 | 181,794 | ||||||
|
|
|||||||
1,512,480 | ||||||||
|
|
|||||||
Semiconductors 0.5% |
||||||||
Intel Corp. |
||||||||
5.20% due 2/10/2033 |
1,200,000 | 1,161,480 | ||||||
Marvell Technology, Inc. |
||||||||
5.95% due 9/15/2033 |
800,000 | 786,632 | ||||||
|
|
|||||||
1,948,112 | ||||||||
|
|
|||||||
Software 1.1% |
||||||||
Microsoft Corp. |
||||||||
2.921% due 3/17/2052 |
1,300,000 | 852,956 | ||||||
3.30% due 2/6/2027 |
1,500,000 | 1,423,080 | ||||||
Oracle Corp. |
||||||||
5.55% due 2/6/2053 |
300,000 | 262,935 | ||||||
6.25% due 11/9/2032 |
1,700,000 | 1,720,009 | ||||||
6.90% due 11/9/2052 |
300,000 | 308,919 | ||||||
|
|
|||||||
4,567,899 | ||||||||
|
|
|||||||
Telecommunications 0.8% |
||||||||
AT&T, Inc. |
||||||||
3.50% due 9/15/2053 |
1,000,000 | 617,860 | ||||||
5.40% due 2/15/2034 |
2,000,000 | 1,870,700 | ||||||
T-Mobile USA, Inc. |
||||||||
2.70% due 3/15/2032 |
600,000 | 468,048 | ||||||
3.40% due 10/15/2052 |
200,000 | 124,604 | ||||||
Verizon Communications, Inc. |
||||||||
2.355% due 3/15/2032 |
200,000 | 152,458 | ||||||
|
|
|||||||
3,233,670 | ||||||||
|
|
|||||||
Toys, Games & Hobbies 0.4% |
||||||||
Mattel, Inc. |
||||||||
3.75% due 4/1/2029(1) |
2,000,000 | 1,740,500 | ||||||
|
|
|||||||
1,740,500 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Transportation 0.4% |
||||||||
Union Pacific Corp. |
||||||||
3.95% due 9/10/2028 |
$ | 300,000 | $ | 282,948 | ||||
4.50% due 1/20/2033 |
500,000 | 464,800 | ||||||
4.95% due 5/15/2053 |
900,000 | 805,653 | ||||||
|
|
|||||||
1,553,401 | ||||||||
|
|
|||||||
Total Corporate Bonds & Notes |
95,789,075 | |||||||
|
|
|||||||
NonAgency MortgageBacked Securities 6.7% |
||||||||
Benchmark Mortgage Trust |
||||||||
Series 2018-B3, Class AS |
||||||||
4.195% due 4/10/2051(2)(3) |
2,550,000 | 2,273,575 | ||||||
Citigroup Commercial Mortgage Trust |
||||||||
Series 2014-GC23, Class AS |
||||||||
3.863% due 7/10/2047 |
2,750,000 | 2,646,197 | ||||||
Commercial Mortgage Trust |
||||||||
Series 2017-COR2, Class A3 |
||||||||
3.51% due 9/10/2050 |
2,920,000 | 2,648,057 | ||||||
Series 2019-GC44, Class AM |
||||||||
3.263% due 8/15/2057 |
2,415,000 | 1,968,708 | ||||||
DBGS Mortgage Trust |
||||||||
Series 2018-C1, Class AM |
||||||||
4.777% due 10/15/2051(2)(3) |
2,400,000 | 2,148,096 | ||||||
DBUBS Mortgage Trust |
||||||||
Series 2017-BRBK, Class A |
||||||||
3.452% due 10/10/2034(1) |
1,760,000 | 1,604,744 | ||||||
Freddie Mac STACR REMIC Trust |
||||||||
Series 2021-DNA7, Class M2 |
||||||||
7.115% due 11/25/2041(1)(2)(3) |
2,200,000 | 2,151,550 | ||||||
Series 2021-HQA4, Class M1 |
||||||||
6.265% due 12/25/2041(1)(2)(3) |
1,321,221 | 1,292,225 | ||||||
Series 2022-DNA1, Class M1A |
||||||||
6.315% due 1/25/2042(1)(2)(3) |
1,121,448 | 1,110,878 | ||||||
Series 2022-HQA3, Class M1A |
||||||||
7.615% due 8/25/2042(1)(2)(3) |
2,406,347 | 2,437,928 | ||||||
Hilton USA Trust |
||||||||
Series 2016-HHV, Class A |
||||||||
3.719% due 11/5/2038(1) |
1,875,000 | 1,734,800 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust |
||||||||
Series 2013-C9, Class AS |
||||||||
3.456% due 5/15/2046 |
399,076 | 369,451 | ||||||
Wells Fargo Commercial Mortgage Trust |
||||||||
Series 2015-NXS4, Class A4 |
||||||||
3.718% due 12/15/2048 |
3,120,000 | 2,956,317 | ||||||
Series 2018-C43, Class A4 |
||||||||
4.012% due 3/15/2051(2)(3) |
3,000,000 | 2,754,720 | ||||||
|
|
|||||||
Total NonAgency MortgageBacked Securities |
28,097,246 | |||||||
|
|
|||||||
U.S. Government Agencies 0.5% |
||||||||
Federal Home Loan Bank Discount Notes |
||||||||
2.719% due 10/2/2023(4) |
2,000,000 | 1,999,706 | ||||||
|
|
|||||||
Total U.S. Government Agencies |
1,999,706 | |||||||
|
|
|||||||
U.S. Government Securities 34.8% |
||||||||
U.S. Treasury Bonds |
||||||||
4.125% due 8/15/2053 |
22,300,000 | 20,251,188 | ||||||
4.375% due 8/15/2043 |
45,000,000 | 42,004,687 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE FIXED INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
U.S. Government Securities (continued) |
| |||||||
U.S. Treasury Notes |
||||||||
3.875% due 8/15/2033 |
$ | 5,400,000 | $ | 5,102,156 | ||||
4.625% due 9/30/2028 |
48,000,000 | 48,027,456 | ||||||
5.00% due 9/30/2025 |
32,000,000 | 31,967,754 | ||||||
|
|
|||||||
Total U.S. Government Securities |
|
147,353,241 | ||||||
|
|
|||||||
Shares | Value | |||||||
ExchangeTraded Funds 2.2% |
| |||||||
iShares MBS ETF |
53,500 | 4,750,800 | ||||||
Vanguard Mortgage-Backed Securities ETF |
104,800 | 4,588,144 | ||||||
|
|
|||||||
Total ExchangeTraded Funds |
|
9,338,944 | ||||||
|
|
|||||||
Principal Amount |
Value |
|||||||
Repurchase Agreements 0.2% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $973,047, due 10/2/2023(5) |
$ | 972,918 | 972,918 | |||||
|
|
|||||||
Total Repurchase Agreements |
|
972,918 | ||||||
|
|
|||||||
Total Investments 98.3% |
|
416,252,646 | ||||||
|
|
|||||||
Assets in excess of other liabilities 1.7% |
|
7,083,113 | ||||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 423,335,759 | |||||
|
|
(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 September 30, 2023, the aggregate market value of these securities amounted to $86,714,296, representing 20.5% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Funds 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 September 30, 2023. |
(3) | Variable coupon rate based on weighted average interest rate of underlying mortgages. |
(4) | Interest rate shown reflects the discount rate at time of purchase. |
(5) | The table below presents collateral for repurchase agreements. |
|
Coupon |
Maturity Date |
Principal Amount |
Value |
||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 1,098,700 | $ | 992,405 |
Open futures contracts at September 30, 2023:
|
Expiration |
Contracts |
Position |
Notional Amount |
Notional Value |
Unrealized Depreciation |
||||||||||||||||||
U.S. 2-Year Treasury Note |
December 2023 | 241 | Long | $ | 49,113,711 | $ | 48,853,336 | $ | (260,375 | ) | ||||||||||||||
U.S. 5-Year Treasury Note |
December 2023 | 180 | Long | 19,110,422 | 18,964,687 | (145,735 | ) | |||||||||||||||||
U.S. Ultra 10-Year Treasury Note |
December 2023 | 143 | Long | 16,398,458 | 15,953,438 | (445,020 | ) | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||
Total |
|
$ | 84,622,591 | $ | 83,771,461 | $ | (851,130 | ) | ||||||||||||||||
|
|
|
|
|
|
Centrally cleared credit default swap agreements buy protection(6):
|
Implied Credit Spread at 9/30/2023(7) |
Notional Amount(8) |
Maturity |
(Pay)/Receive Fixed Rate |
Periodic Payment Frequency |
Upfront Payments |
Value |
Unrealized Depreciation |
||||||||||||||||||||||||
CDX.NA.IG.S40 |
0.68% | USD | 45,000,000 | 6/20/2028 | (1.00)% | Quarterly | $ | (499,632) | $ | (595,162) | $ | (95,530 | ) |
(6) | 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 buyer 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. |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE FIXED INCOME VIP FUND
(7) | 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 entitys credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the swap agreement. |
(8) | The notional amount represents the maximum potential amount the Fund could be required to pay 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 Investment Grade Index. |
Legend:
CLO Collateralized Loan Obligation
CMT Constant Maturity Treasury
REMIC Real Estate Mortgage Investment Conduit
SOFR Secured Overnight Financing Rate
STACR Structured Agency Credit Risk
USD United States Dollar
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN CORE FIXED INCOME VIP FUND
The following is a summary of the inputs used as of September 30, 2023 in valuing the Funds 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 MortgageBacked Securities |
$ | | $ | 42,841,116 | $ | | $ | 42,841,116 | ||||||||
AssetBacked Securities |
| 89,860,400 | | 89,860,400 | ||||||||||||
Corporate Bonds & Notes |
| 95,789,075 | | 95,789,075 | ||||||||||||
NonAgency MortgageBacked Securities |
| 28,097,246 | | 28,097,246 | ||||||||||||
U.S. Government Agencies |
| 1,999,706 | | 1,999,706 | ||||||||||||
U.S. Government Securities |
| 147,353,241 | | 147,353,241 | ||||||||||||
ExchangeTraded Funds |
9,338,944 | | | 9,338,944 | ||||||||||||
Repurchase Agreements |
| 972,918 | | 972,918 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 9,338,944 | $ | 406,913,702 | $ | | $ | 416,252,646 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Other Financial Instruments |
||||||||||||||||
Futures Contracts |
||||||||||||||||
Liabilities |
$ | (851,130 | ) | $ | | $ | | $ | (851,130 | ) | ||||||
Swap Contracts |
||||||||||||||||
Liabilities |
| (95,530 | ) | | (95,530 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | (851,130 | ) | $ | (95,530 | ) | $ | | $ | (946,660 | ) | |||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN EQUITY INCOME VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 98.6% |
| |||||||
Aerospace & Defense 3.5% |
| |||||||
General Dynamics Corp. |
10,568 | $ | 2,335,211 | |||||
L3Harris Technologies, Inc. |
5,753 | 1,001,712 | ||||||
RTX Corp. |
18,429 | 1,326,335 | ||||||
|
|
|||||||
4,663,258 | ||||||||
|
|
|||||||
Air Freight & Logistics 0.4% |
| |||||||
United Parcel Service, Inc., Class B |
3,600 | 561,132 | ||||||
|
|
|||||||
561,132 | ||||||||
|
|
|||||||
Banks 7.5% |
| |||||||
JPMorgan Chase & Co. |
24,808 | 3,597,656 | ||||||
M&T Bank Corp. |
15,347 | 1,940,628 | ||||||
New York Community Bancorp, Inc. |
129,489 | 1,468,405 | ||||||
Regions Financial Corp. |
84,410 | 1,451,852 | ||||||
Royal Bank of Canada (Canada) |
16,568 | 1,447,909 | ||||||
|
|
|||||||
9,906,450 | ||||||||
|
|
|||||||
Beverages 2.8% |
| |||||||
Keurig Dr Pepper, Inc. |
62,891 | 1,985,469 | ||||||
Pernod Ricard SA (France) |
10,522 | 1,751,501 | ||||||
|
|
|||||||
3,736,970 | ||||||||
|
|
|||||||
Biotechnology 1.5% |
| |||||||
Gilead Sciences, Inc. |
25,602 | 1,918,614 | ||||||
|
|
|||||||
1,918,614 | ||||||||
|
|
|||||||
Building Products 1.0% |
| |||||||
Johnson Controls International PLC |
25,106 | 1,335,890 | ||||||
|
|
|||||||
1,335,890 | ||||||||
|
|
|||||||
Capital Markets 6.5% |
| |||||||
Ares Management Corp., Class A |
16,570 | 1,704,556 | ||||||
Goldman Sachs Group, Inc. |
3,894 | 1,259,982 | ||||||
Intercontinental Exchange, Inc. |
16,210 | 1,783,424 | ||||||
Morgan Stanley |
20,565 | 1,679,544 | ||||||
Raymond James Financial, Inc. |
21,450 | 2,154,223 | ||||||
|
|
|||||||
8,581,729 | ||||||||
|
|
|||||||
Chemicals 2.7% |
| |||||||
Celanese Corp. |
7,722 | 969,265 | ||||||
LyondellBasell Industries NV, Class A |
15,818 | 1,497,965 | ||||||
PPG Industries, Inc. |
9,022 | 1,171,056 | ||||||
|
|
|||||||
3,638,286 | ||||||||
|
|
|||||||
Communications Equipment 2.2% |
| |||||||
Cisco Systems, Inc. |
54,678 | 2,939,489 | ||||||
|
|
|||||||
2,939,489 | ||||||||
|
|
|||||||
Distributors 1.0% |
| |||||||
LKQ Corp. |
26,933 | 1,333,453 | ||||||
|
|
|||||||
1,333,453 | ||||||||
|
|
|||||||
Electric Utilities 3.9% |
| |||||||
American Electric Power Co., Inc. |
26,538 | 1,996,188 | ||||||
Exelon Corp. |
51,312 | 1,939,081 | ||||||
NextEra Energy, Inc. |
20,623 | 1,181,492 | ||||||
|
|
|||||||
5,116,761 | ||||||||
|
|
|||||||
Electrical Equipment 2.4% |
| |||||||
Eaton Corp. PLC |
5,689 | 1,213,350 | ||||||
Emerson Electric Co. |
20,243 | 1,954,866 | ||||||
|
|
|||||||
3,168,216 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN EQUITY INCOME VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Electronic Equipment, Instruments & Components 2.2% |
| |||||||
Corning, Inc. |
47,531 | $ | 1,448,270 | |||||
TE Connectivity Ltd. |
11,881 | 1,467,660 | ||||||
|
|
|||||||
2,915,930 | ||||||||
|
|
|||||||
Financial Services 2.0% |
| |||||||
Equitable Holdings, Inc. |
56,641 | 1,608,038 | ||||||
Fidelity National Information Services, Inc. |
17,877 | 988,062 | ||||||
|
|
|||||||
2,596,100 | ||||||||
|
|
|||||||
Food Products 2.1% |
| |||||||
Archer-Daniels-Midland Co. |
18,595 | 1,402,435 | ||||||
Kellogg Co. |
22,388 | 1,332,310 | ||||||
|
|
|||||||
2,734,745 | ||||||||
|
|
|||||||
Gas Utilities 1.3% |
| |||||||
Atmos Energy Corp. |
16,022 | 1,697,210 | ||||||
|
|
|||||||
1,697,210 | ||||||||
|
|
|||||||
Ground Transportation 0.9% |
| |||||||
Canadian National Railway Co. (Canada) |
11,277 | 1,221,229 | ||||||
|
|
|||||||
1,221,229 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 1.4% |
| |||||||
Becton Dickinson & Co. |
7,332 | 1,895,542 | ||||||
|
|
|||||||
1,895,542 | ||||||||
|
|
|||||||
Health Care Providers & Services 3.3% |
| |||||||
Elevance Health, Inc. |
3,699 | 1,610,619 | ||||||
UnitedHealth Group, Inc. |
5,544 | 2,795,229 | ||||||
|
|
|||||||
4,405,848 | ||||||||
|
|
|||||||
Health Care REITs 1.0% |
| |||||||
Welltower, Inc. |
16,507 | 1,352,253 | ||||||
|
|
|||||||
1,352,253 | ||||||||
|
|
|||||||
Hotel & Resort REITs 1.1% |
| |||||||
Host Hotels & Resorts, Inc. |
86,531 | 1,390,553 | ||||||
|
|
|||||||
1,390,553 | ||||||||
|
|
|||||||
Household Durables 1.0% |
| |||||||
Lennar Corp., Class A |
11,604 | 1,302,317 | ||||||
|
|
|||||||
1,302,317 | ||||||||
|
|
|||||||
Industrial Conglomerates 1.9% |
| |||||||
Honeywell International, Inc. |
5,789 | 1,069,460 | ||||||
Siemens AG, ADR |
8,467 | 604,967 | ||||||
Siemens AG, Reg S (Germany) |
5,701 | 817,314 | ||||||
|
|
|||||||
2,491,741 | ||||||||
|
|
|||||||
Insurance 4.2% |
| |||||||
American International Group, Inc. |
25,030 | 1,516,818 | ||||||
Chubb Ltd. |
8,333 | 1,734,764 | ||||||
MetLife, Inc. |
36,856 | 2,318,611 | ||||||
|
|
|||||||
5,570,193 | ||||||||
|
|
|||||||
IT Services 0.8% |
| |||||||
Amdocs Ltd. |
13,241 | 1,118,732 | ||||||
|
|
|||||||
1,118,732 | ||||||||
|
|
|||||||
Metals & Mining 2.6% |
| |||||||
Barrick Gold Corp. |
86,902 | 1,264,424 | ||||||
Rio Tinto PLC, ADR |
35,139 | 2,236,246 | ||||||
|
|
|||||||
3,500,670 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN EQUITY INCOME VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Multi-Utilities 2.3% |
| |||||||
Dominion Energy, Inc. |
29,444 | $ | 1,315,263 | |||||
Sempra |
26,385 | 1,794,972 | ||||||
|
|
|||||||
3,110,235 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 9.7% |
| |||||||
ConocoPhillips |
32,247 | 3,863,191 | ||||||
Coterra Energy, Inc. |
70,714 | 1,912,814 | ||||||
Diamondback Energy, Inc. |
8,927 | 1,382,614 | ||||||
Enbridge, Inc. (Canada) |
38,112 | 1,264,086 | ||||||
EOG Resources, Inc. |
24,228 | 3,071,141 | ||||||
Phillips 66 |
10,959 | 1,316,724 | ||||||
|
|
|||||||
12,810,570 | ||||||||
|
|
|||||||
Personal Care Products 2.7% |
| |||||||
Kenvue, Inc. |
64,882 | 1,302,830 | ||||||
Unilever PLC, ADR |
46,679 | 2,305,943 | ||||||
|
|
|||||||
3,608,773 | ||||||||
|
|
|||||||
Pharmaceuticals 10.3% |
| |||||||
AstraZeneca PLC, ADR |
25,955 | 1,757,673 | ||||||
Johnson & Johnson |
14,397 | 2,242,333 | ||||||
Merck & Co., Inc. |
39,514 | 4,067,966 | ||||||
Pfizer, Inc. |
125,202 | 4,152,950 | ||||||
Roche Holding AG (Switzerland) |
5,059 | 1,379,919 | ||||||
|
|
|||||||
13,600,841 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 4.0% |
| |||||||
Analog Devices, Inc. |
6,583 | 1,152,618 | ||||||
Broadcom, Inc. |
1,649 | 1,369,626 | ||||||
NXP Semiconductors NV |
7,310 | 1,461,415 | ||||||
QUALCOMM, Inc. |
11,802 | 1,310,730 | ||||||
|
|
|||||||
5,294,389 | ||||||||
|
|
|||||||
Specialized REITs 3.3% |
| |||||||
Crown Castle, Inc. |
20,463 | 1,883,210 | ||||||
Gaming & Leisure Properties, Inc. |
45,400 | 2,067,970 | ||||||
Weyerhaeuser Co. |
13,500 | 413,910 | ||||||
|
|
|||||||
4,365,090 | ||||||||
|
|
|||||||
Specialty Retail 2.8% |
| |||||||
Home Depot, Inc. |
4,058 | 1,226,165 | ||||||
TJX Cos., Inc. |
14,808 | 1,316,135 | ||||||
Tractor Supply Co. |
5,570 | 1,130,989 | ||||||
|
|
|||||||
3,673,289 | ||||||||
|
|
|||||||
Tobacco 2.3% |
| |||||||
Philip Morris International, Inc. |
32,676 | 3,025,144 | ||||||
|
|
|||||||
3,025,144 | ||||||||
|
|
|||||||
Total Common Stocks |
|
130,581,642 | ||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN EQUITY INCOME VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Repurchase Agreements 1.7% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $2,267,548, due 10/2/2023(1) |
$ | 2,267,246 | $ | 2,267,246 | ||||
|
|
|||||||
Total Repurchase Agreements |
|
2,267,246 | ||||||
|
|
|||||||
Total Investments 100.3% |
132,848,888 | |||||||
|
|
|||||||
Liabilities in excess of other assets (0.3)% |
(335,372 | ) | ||||||
|
|
|||||||
Total Net Assets 100.0% |
$ | 132,513,516 | ||||||
|
|
(1) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 2,560,300 | $ | 2,312,601 |
Legend:
ADR American Depositary Receipt
REITs Real Estate Investment Trusts
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN EQUITY INCOME VIP FUND
The following is a summary of the inputs used as of September 30, 2023 in valuing the Funds 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 |
$ | 126,632,908 | $ | 3,948,734 | * | $ | | $ | 130,581,642 | |||||||
Repurchase Agreements |
| 2,267,246 | | 2,267,246 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 126,632,908 | $ | 6,215,980 | $ | | $ | 132,848,888 | ||||||||
|
|
|
|
|
|
|
|
* | 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
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 98.7% |
| |||||||
Aerospace & Defense 1.9% |
| |||||||
HEICO Corp., Class A |
17,146 | $ | 2,215,606 | |||||
Howmet Aerospace, Inc. |
25,120 | 1,161,800 | ||||||
Spirit AeroSystems Holdings, Inc., Class A(1) |
22,800 | 367,992 | ||||||
|
|
|||||||
3,745,398 | ||||||||
|
|
|||||||
Automobile Components 1.5% |
| |||||||
Adient PLC(1) |
27,175 | 997,322 | ||||||
Lear Corp. |
13,399 | 1,798,146 | ||||||
Novem Group SA (Luxembourg) |
19,713 | 151,628 | ||||||
|
|
|||||||
2,947,096 | ||||||||
|
|
|||||||
Automobiles 0.5% |
| |||||||
Harley-Davidson, Inc. |
29,195 | 965,187 | ||||||
|
|
|||||||
965,187 | ||||||||
|
|
|||||||
Banks 5.5% |
| |||||||
Associated Banc-Corp |
55,701 | 953,044 | ||||||
Axos Financial, Inc.(1) |
6,049 | 229,015 | ||||||
Bancorp, Inc.(1) |
103,228 | 3,561,366 | ||||||
Cadence Bank |
29,473 | 625,417 | ||||||
East West Bancorp, Inc. |
28,395 | 1,496,701 | ||||||
First Interstate BancSystem, Inc., Class A |
8,976 | 223,861 | ||||||
Pathward Financial, Inc. |
19,423 | 895,206 | ||||||
Piraeus Financial Holdings SA (Greece)(1) |
114,146 | 338,377 | ||||||
Popular, Inc. |
25,621 | 1,614,379 | ||||||
Wintrust Financial Corp. |
4,230 | 319,365 | ||||||
Zions Bancorporation NA |
21,616 | 754,182 | ||||||
|
|
|||||||
11,010,913 | ||||||||
|
|
|||||||
Beverages 0.7% |
| |||||||
Boston Beer Co., Inc., Class A(1) |
1,585 | 617,405 | ||||||
Celsius Holdings, Inc.(1) |
4,333 | 743,543 | ||||||
|
|
|||||||
1,360,948 | ||||||||
|
|
|||||||
Biotechnology 0.6% |
| |||||||
United Therapeutics Corp.(1) |
5,150 | 1,163,231 | ||||||
|
|
|||||||
1,163,231 | ||||||||
|
|
|||||||
Building Products 1.2% |
| |||||||
Carlisle Cos., Inc. |
9,496 | 2,461,933 | ||||||
|
|
|||||||
2,461,933 | ||||||||
|
|
|||||||
Capital Markets 1.0% |
| |||||||
Interactive Brokers Group, Inc., Class A |
19,038 | 1,647,929 | ||||||
Patria Investments Ltd., Class A |
20,443 | 298,059 | ||||||
|
|
|||||||
1,945,988 | ||||||||
|
|
|||||||
Chemicals 2.0% |
| |||||||
Celanese Corp. |
6,834 | 857,804 | ||||||
RPM International, Inc. |
17,569 | 1,665,717 | ||||||
Westlake Corp. |
11,227 | 1,399,670 | ||||||
|
|
|||||||
3,923,191 | ||||||||
|
|
|||||||
Commercial Services & Supplies 0.9% |
| |||||||
Brinks Co. |
25,336 | 1,840,407 | ||||||
|
|
|||||||
1,840,407 | ||||||||
|
|
|||||||
Communications Equipment 0.5% |
| |||||||
Ciena Corp.(1) |
5,800 | 274,108 | ||||||
Lumentum Holdings, Inc.(1) |
17,900 | 808,722 | ||||||
|
|
|||||||
1,082,830 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SELECT MID CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Construction & Engineering 1.3% |
| |||||||
EMCOR Group, Inc. |
1,520 | $ | 319,793 | |||||
WillScot Mobile Mini Holdings Corp.(1) |
55,915 | 2,325,505 | ||||||
|
|
|||||||
2,645,298 | ||||||||
|
|
|||||||
Construction Materials 1.2% |
| |||||||
Eagle Materials, Inc. |
10,670 | 1,776,768 | ||||||
Knife River Corp.(1) |
13,978 | 682,546 | ||||||
|
|
|||||||
2,459,314 | ||||||||
|
|
|||||||
Consumer Finance 1.1% |
| |||||||
NerdWallet, Inc., Class A(1) |
57,719 | 513,122 | ||||||
OneMain Holdings, Inc. |
40,939 | 1,641,244 | ||||||
|
|
|||||||
2,154,366 | ||||||||
|
|
|||||||
Consumer Staples Distribution & Retail 2.6% |
| |||||||
BJs Wholesale Club Holdings, Inc.(1) |
19,091 | 1,362,525 | ||||||
Caseys General Stores, Inc. |
2,589 | 702,965 | ||||||
Performance Food Group Co.(1) |
29,483 | 1,735,369 | ||||||
Sprouts Farmers Market, Inc.(1) |
15,388 | 658,607 | ||||||
U.S. Foods Holding Corp.(1) |
18,837 | 747,829 | ||||||
|
|
|||||||
5,207,295 | ||||||||
|
|
|||||||
Containers & Packaging 0.9% |
| |||||||
AptarGroup, Inc. |
13,841 | 1,730,679 | ||||||
|
|
|||||||
1,730,679 | ||||||||
|
|
|||||||
Diversified Consumer Services 1.0% |
| |||||||
H&R Block, Inc. |
28,393 | 1,222,603 | ||||||
Service Corp. International |
13,352 | 762,933 | ||||||
|
|
|||||||
1,985,536 | ||||||||
|
|
|||||||
Diversified Telecommunication Services 0.3% |
| |||||||
Frontier Communications Parent, Inc.(1) |
6,960 | 108,924 | ||||||
Iridium Communications, Inc. |
11,520 | 524,045 | ||||||
|
|
|||||||
632,969 | ||||||||
|
|
|||||||
Electric Utilities 0.9% |
| |||||||
ALLETE, Inc. |
8,933 | 471,663 | ||||||
OGE Energy Corp. |
8,579 | 285,938 | ||||||
PNM Resources, Inc. |
14,377 | 641,358 | ||||||
Portland General Electric Co. |
10,969 | 444,025 | ||||||
|
|
|||||||
1,842,984 | ||||||||
|
|
|||||||
Electrical Equipment 1.8% |
| |||||||
nVent Electric PLC |
21,090 | 1,117,559 | ||||||
Regal Rexnord Corp. |
18,132 | 2,590,700 | ||||||
|
|
|||||||
3,708,259 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 2.2% |
| |||||||
Avnet, Inc. |
17,211 | 829,398 | ||||||
Cognex Corp. |
23,549 | 999,420 | ||||||
Coherent Corp.(1) |
5,200 | 169,728 | ||||||
Crane NXT Co. |
13,890 | 771,867 | ||||||
Jabil, Inc. |
6,100 | 774,029 | ||||||
Trimble, Inc.(1) |
9,983 | 537,684 | ||||||
TTM Technologies, Inc.(1) |
29,545 | 380,540 | ||||||
|
|
|||||||
4,462,666 | ||||||||
|
|
|||||||
Energy Equipment & Services 1.4% |
| |||||||
ChampionX Corp. |
47,299 | 1,684,790 | ||||||
Liberty Energy, Inc. |
66,203 | 1,226,080 | ||||||
|
|
|||||||
2,910,870 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SELECT MID CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Entertainment 0.5% |
| |||||||
Endeavor Group Holdings, Inc., Class A |
10,319 | $ | 205,348 | |||||
Liberty Media Corp.-Liberty Formula One, Class C(1) |
3,846 | 239,606 | ||||||
TKO Group Holdings, Inc. |
3,114 | 261,763 | ||||||
Warner Music Group Corp., Class A |
7,248 | 227,587 | ||||||
|
|
|||||||
934,304 | ||||||||
|
|
|||||||
Financial Services 3.1% |
| |||||||
AvidXchange Holdings, Inc.(1) |
47,244 | 447,873 | ||||||
Cairo Mezz PLC (Cyprus)(1) |
591,430 | 67,580 | ||||||
Cannae Holdings, Inc.(1) |
17,905 | 333,749 | ||||||
Essent Group Ltd. |
35,409 | 1,674,492 | ||||||
MGIC Investment Corp. |
38,208 | 637,691 | ||||||
Nuvei Corp. (Canada)(2) |
11,403 | 171,013 | ||||||
Repay Holdings Corp.(1) |
37,917 | 287,790 | ||||||
Shift4 Payments, Inc., Class A(1) |
4,345 | 240,583 | ||||||
UWM Holdings Corp. |
98,848 | 479,413 | ||||||
Voya Financial, Inc. |
13,024 | 865,445 | ||||||
WEX, Inc.(1) |
5,045 | 948,914 | ||||||
|
|
|||||||
6,154,543 | ||||||||
|
|
|||||||
Food Products 1.1% |
| |||||||
Darling Ingredients, Inc.(1) |
17,774 | 927,803 | ||||||
Freshpet, Inc.(1) |
1,912 | 125,962 | ||||||
Ingredion, Inc. |
7,334 | 721,666 | ||||||
Lancaster Colony Corp. |
1,112 | 183,513 | ||||||
Nomad Foods Ltd.(1) |
8,356 | 127,178 | ||||||
Simply Good Foods Co.(1) |
4,163 | 143,707 | ||||||
|
|
|||||||
2,229,829 | ||||||||
|
|
|||||||
Gas Utilities 0.7% |
| |||||||
National Fuel Gas Co. |
8,737 | 453,538 | ||||||
Southwest Gas Holdings, Inc. |
12,666 | 765,153 | ||||||
UGI Corp. |
8,309 | 191,107 | ||||||
|
|
|||||||
1,409,798 | ||||||||
|
|
|||||||
Ground Transportation 2.7% |
| |||||||
Landstar System, Inc. |
14,268 | 2,524,580 | ||||||
RXO, Inc.(1) |
30,111 | 594,090 | ||||||
XPO, Inc.(1) |
30,031 | 2,242,114 | ||||||
|
|
|||||||
5,360,784 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 2.1% |
| |||||||
ICU Medical, Inc.(1) |
6,250 | 743,813 | ||||||
Masimo Corp.(1) |
12,500 | 1,096,000 | ||||||
Penumbra, Inc.(1) |
8,050 | 1,947,375 | ||||||
Tandem Diabetes Care, Inc.(1) |
21,400 | 444,478 | ||||||
|
|
|||||||
4,231,666 | ||||||||
|
|
|||||||
Health Care Providers & Services 3.6% |
| |||||||
Acadia Healthcare Co., Inc.(1) |
20,200 | 1,420,262 | ||||||
agilon health, Inc.(1) |
60,500 | 1,074,480 | ||||||
Alignment Healthcare, Inc.(1) |
80,000 | 555,200 | ||||||
Chemed Corp. |
3,050 | 1,585,085 | ||||||
Molina Healthcare, Inc.(1) |
3,200 | 1,049,248 | ||||||
Privia Health Group, Inc.(1) |
37,000 | 851,000 | ||||||
Surgery Partners, Inc.(1) |
27,500 | 804,375 | ||||||
|
|
|||||||
7,339,650 | ||||||||
|
|
|||||||
Health Care REITs 1.2% |
| |||||||
Omega Healthcare Investors, Inc. |
35,480 | 1,176,517 | ||||||
Ventas, Inc. |
30,243 | 1,274,137 | ||||||
|
|
|||||||
2,450,654 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SELECT MID CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Health Care Technology 0.4% |
| |||||||
Evolent Health, Inc., Class A(1) |
29,400 | $ | 800,562 | |||||
|
|
|||||||
800,562 | ||||||||
|
|
|||||||
Hotel & Resort REITs 0.1% |
| |||||||
Ryman Hospitality Properties, Inc. |
2,080 | 173,222 | ||||||
|
|
|||||||
173,222 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 5.5% |
| |||||||
Aramark |
57,537 | 1,996,534 | ||||||
Brinker International, Inc.(1) |
13,746 | 434,236 | ||||||
Caesars Entertainment, Inc.(1) |
24,988 | 1,158,194 | ||||||
Churchill Downs, Inc. |
20,012 | 2,322,193 | ||||||
Dominos Pizza, Inc. |
3,821 | 1,447,357 | ||||||
Penn Entertainment, Inc.(1) |
10,235 | 234,893 | ||||||
Planet Fitness, Inc., Class A(1) |
11,596 | 570,291 | ||||||
Red Rock Resorts, Inc., Class A |
4,576 | 187,616 | ||||||
Vail Resorts, Inc. |
2,951 | 654,797 | ||||||
Wyndham Hotels & Resorts, Inc. |
29,383 | 2,043,294 | ||||||
|
|
|||||||
11,049,405 | ||||||||
|
|
|||||||
Household Durables 1.4% |
| |||||||
Leggett & Platt, Inc. |
23,286 | 591,697 | ||||||
NVR, Inc.(1) |
135 | 805,046 | ||||||
Taylor Morrison Home Corp.(1) |
34,377 | 1,464,804 | ||||||
|
|
|||||||
2,861,547 | ||||||||
|
|
|||||||
Household Products 0.3% |
| |||||||
Energizer Holdings, Inc. |
11,217 | 359,393 | ||||||
Reynolds Consumer Products, Inc. |
6,948 | 178,077 | ||||||
|
|
|||||||
537,470 | ||||||||
|
|
|||||||
Independent Power and Renewable Electricity Producers 0.3% |
| |||||||
Ormat Technologies, Inc. |
5,374 | 375,750 | ||||||
Vistra Corp. |
8,002 | 265,506 | ||||||
|
|
|||||||
641,256 | ||||||||
|
|
|||||||
Industrial REITs 1.6% |
| |||||||
Americold Realty Trust, Inc. |
19,950 | 606,680 | ||||||
EastGroup Properties, Inc. |
10,100 | 1,681,953 | ||||||
Terreno Realty Corp. |
17,980 | 1,021,264 | ||||||
|
|
|||||||
3,309,897 | ||||||||
|
|
|||||||
Insurance 3.2% |
| |||||||
American Financial Group, Inc. |
8,899 | 993,751 | ||||||
BRP Group, Inc., Class A(1) |
33,605 | 780,644 | ||||||
Fairfax Financial Holdings Ltd. (Canada) |
882 | 719,996 | ||||||
Globe Life, Inc. |
3,524 | 383,165 | ||||||
Primerica, Inc. |
8,113 | 1,574,003 | ||||||
Reinsurance Group of America, Inc. |
918 | 133,284 | ||||||
Talanx AG (Germany) |
4,224 | 267,878 | ||||||
Unum Group |
30,824 | 1,516,233 | ||||||
|
|
|||||||
6,368,954 | ||||||||
|
|
|||||||
Interactive Media & Services 0.3% |
| |||||||
Ziff Davis, Inc.(1) |
5,106 | 325,201 | ||||||
ZoomInfo Technologies, Inc.(1) |
18,158 | 297,791 | ||||||
|
|
|||||||
622,992 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SELECT MID CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
IT Services 2.2% |
| |||||||
Akamai Technologies, Inc.(1) |
4,389 | $ | 467,604 | |||||
EPAM Systems, Inc.(1) |
3,900 | 997,191 | ||||||
GoDaddy, Inc., Class A(1) |
10,232 | 762,079 | ||||||
MongoDB, Inc.(1) |
600 | 207,516 | ||||||
Okta, Inc.(1) |
5,900 | 480,909 | ||||||
Twilio, Inc., Class A(1) |
16,700 | 977,451 | ||||||
Wix.com Ltd.(1) |
5,675 | 520,965 | ||||||
|
|
|||||||
4,413,715 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 1.6% |
| |||||||
10X Genomics, Inc., Class A(1) |
17,500 | 721,875 | ||||||
Bruker Corp. |
21,600 | 1,345,680 | ||||||
Repligen Corp.(1) |
7,500 | 1,192,575 | ||||||
|
|
|||||||
3,260,130 | ||||||||
|
|
|||||||
Machinery 7.0% |
| |||||||
AGCO Corp. |
15,600 | 1,845,168 | ||||||
Allison Transmission Holdings, Inc. |
12,676 | 748,645 | ||||||
Chart Industries, Inc.(1) |
7,020 | 1,187,222 | ||||||
Crane Co. |
15,530 | 1,379,685 | ||||||
Dover Corp. |
7,040 | 982,150 | ||||||
Esab Corp. |
32,690 | 2,295,492 | ||||||
Flowserve Corp. |
70,475 | 2,802,791 | ||||||
IDEX Corp. |
4,399 | 915,080 | ||||||
ITT, Inc. |
20,531 | 2,010,190 | ||||||
|
|
|||||||
14,166,423 | ||||||||
|
|
|||||||
Marine Transportation 1.0% |
| |||||||
Kirby Corp.(1) |
23,212 | 1,921,954 | ||||||
|
|
|||||||
1,921,954 | ||||||||
|
|
|||||||
Media 0.7% |
| |||||||
Cable One, Inc. |
490 | 301,664 | ||||||
New York Times Co., Class A |
14,483 | 596,699 | ||||||
Nexstar Media Group, Inc. |
4,087 | 585,953 | ||||||
|
|
|||||||
1,484,316 | ||||||||
|
|
|||||||
Metals & Mining 2.2% |
| |||||||
Cleveland-Cliffs, Inc.(1) |
65,331 | 1,021,123 | ||||||
Lundin Mining Corp. (Canada) |
134,050 | 999,762 | ||||||
Reliance Steel & Aluminum Co. |
9,195 | 2,411,205 | ||||||
|
|
|||||||
4,432,090 | ||||||||
|
|
|||||||
Multi-Utilities 0.7% |
| |||||||
Black Hills Corp. |
12,534 | 634,095 | ||||||
NorthWestern Corp. |
14,539 | 698,744 | ||||||
|
|
|||||||
1,332,839 | ||||||||
|
|
|||||||
Office REITs 0.6% |
| |||||||
Douglas Emmett, Inc. |
9,980 | 127,345 | ||||||
Postal Realty Trust, Inc., Class A |
82,178 | 1,109,403 | ||||||
|
|
|||||||
1,236,748 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 3.5% |
| |||||||
Chesapeake Energy Corp. |
15,142 | 1,305,695 | ||||||
Chord Energy Corp. |
7,190 | 1,165,283 | ||||||
Denbury, Inc.(1) |
5,875 | 575,809 | ||||||
EQT Corp. |
25,045 | 1,016,326 | ||||||
HF Sinclair Corp. |
21,976 | 1,251,094 | ||||||
Northern Oil & Gas, Inc. |
27,141 | 1,091,882 | ||||||
Targa Resources Corp. |
7,823 | 670,588 | ||||||
|
|
|||||||
7,076,677 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SELECT MID CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Paper & Forest Products 0.7% |
| |||||||
Louisiana-Pacific Corp. |
25,727 | $ | 1,421,931 | |||||
|
|
|||||||
1,421,931 | ||||||||
|
|
|||||||
Personal Care Products 0.4% |
| |||||||
Beauty Health Co.(1) |
68,400 | 411,768 | ||||||
BellRing Brands, Inc.(1) |
11,950 | 492,699 | ||||||
|
|
|||||||
904,467 | ||||||||
|
|
|||||||
Professional Services 3.1% |
| |||||||
CACI International, Inc., Class A(1) |
7,850 | 2,464,350 | ||||||
Ceridian HCM Holding, Inc.(1) |
6,746 | 457,716 | ||||||
FTI Consulting, Inc.(1) |
3,551 | 633,534 | ||||||
KBR, Inc. |
43,920 | 2,588,645 | ||||||
|
|
|||||||
6,144,245 | ||||||||
|
|
|||||||
Real Estate Management & Development 0.7% |
| |||||||
Doma Holdings, Inc.(1) |
11,638 | 59,121 | ||||||
Jones Lang LaSalle, Inc.(1) |
7,870 | 1,111,086 | ||||||
Zillow Group, Inc., Class C(1) |
4,910 | 226,646 | ||||||
|
|
|||||||
1,396,853 | ||||||||
|
|
|||||||
Residential REITs 0.9% |
| |||||||
Equity LifeStyle Properties, Inc. |
17,747 | 1,130,662 | ||||||
Essex Property Trust, Inc. |
3,590 | 761,403 | ||||||
|
|
|||||||
1,892,065 | ||||||||
|
|
|||||||
Retail REITs 0.6% |
| |||||||
SITE Centers Corp. |
70,354 | 867,465 | ||||||
Tanger Factory Outlet Centers, Inc. |
18,090 | 408,834 | ||||||
|
|
|||||||
1,276,299 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 1.0% |
| |||||||
Cirrus Logic, Inc.(1) |
14,000 | 1,035,440 | ||||||
SolarEdge Technologies, Inc.(1) |
7,220 | 935,062 | ||||||
|
|
|||||||
1,970,502 | ||||||||
|
|
|||||||
Software 4.5% |
| |||||||
Aspen Technology, Inc.(1) |
943 | 192,617 | ||||||
BILL Holdings, Inc.(1) |
7,400 | 803,418 | ||||||
Blackbaud, Inc.(1) |
15,237 | 1,071,466 | ||||||
BlackLine, Inc.(1) |
10,254 | 568,789 | ||||||
Blend Labs, Inc., Class A(1) |
140,463 | 192,434 | ||||||
Elastic NV(1) |
11,828 | 960,907 | ||||||
Five9, Inc.(1) |
14,400 | 925,920 | ||||||
Gen Digital, Inc. |
49,103 | 868,141 | ||||||
Guidewire Software, Inc.(1) |
5,128 | 461,520 | ||||||
HubSpot, Inc.(1) |
500 | 246,250 | ||||||
PTC, Inc.(1) |
6,226 | 882,100 | ||||||
Tenable Holdings, Inc.(1) |
22,673 | 1,015,751 | ||||||
Workiva, Inc.(1) |
9,121 | 924,322 | ||||||
|
|
|||||||
9,113,635 | ||||||||
|
|
|||||||
Specialized REITs 1.4% |
| |||||||
CubeSmart |
26,249 | 1,000,874 | ||||||
Four Corners Property Trust, Inc. |
39,580 | 878,280 | ||||||
Lamar Advertising Co., Class A |
11,910 | 994,128 | ||||||
|
|
|||||||
2,873,282 | ||||||||
|
|
|||||||
Specialty Retail 2.3% |
| |||||||
Burlington Stores, Inc.(1) |
7,053 | 954,271 | ||||||
Five Below, Inc.(1) |
15,033 | 2,418,810 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SELECT MID CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Specialty Retail (continued) |
| |||||||
Foot Locker, Inc. |
22,000 | $ | 381,700 | |||||
Valvoline, Inc. |
28,317 | 912,940 | ||||||
|
|
|||||||
4,667,721 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 0.2% |
| |||||||
Western Digital Corp.(1) |
10,238 | 467,160 | ||||||
|
|
|||||||
467,160 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods 1.9% |
| |||||||
Capri Holdings Ltd.(1) |
10,108 | 531,782 | ||||||
Levi Strauss & Co., Class A |
11,726 | 159,239 | ||||||
PRADA SpA (Italy) |
103,680 | 606,523 | ||||||
PVH Corp. |
16,859 | 1,289,882 | ||||||
Tapestry, Inc. |
39,610 | 1,138,788 | ||||||
|
|
|||||||
3,726,214 | ||||||||
|
|
|||||||
Trading Companies & Distributors 1.9% |
| |||||||
Air Lease Corp. |
36,450 | 1,436,494 | ||||||
WESCO International, Inc. |
16,269 | 2,339,808 | ||||||
|
|
|||||||
3,776,302 | ||||||||
|
|
|||||||
Water Utilities 0.5% |
| |||||||
Essential Utilities, Inc. |
29,239 | 1,003,775 | ||||||
|
|
|||||||
1,003,775 | ||||||||
|
|
|||||||
Total Common Stocks |
|
198,623,234 | ||||||
|
|
|||||||
Principal Amount |
Value |
|||||||
Corporate Bonds & Notes 0.1% |
| |||||||
Commercial Services 0.1% |
| |||||||
Affirm Holdings, Inc. |
||||||||
Convertible |
||||||||
0.000% due 11/15/2026(3) |
$ | 226,000 | 169,541 | |||||
|
|
|||||||
Total Corporate Bonds & Notes |
|
169,541 | ||||||
|
|
|||||||
U.S. Treasury Bills 0.1% |
| |||||||
U.S. Treasury Bills |
||||||||
5.431% due 12/21/2023(4) |
140,000 | 138,346 | ||||||
|
|
|||||||
Total U.S. Treasury Bills |
|
138,346 | ||||||
|
|
|||||||
Repurchase Agreements 1.3% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $2,598,004, due 10/2/2023(5) |
2,597,657 | 2,597,657 | ||||||
|
|
|||||||
Total Repurchase Agreements |
|
2,597,657 | ||||||
|
|
|||||||
Total Investments 100.2% |
|
201,528,778 | ||||||
|
|
|||||||
Liabilities in excess of other assets (0.2)% |
|
(447,632 | ) | |||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 201,081,146 | |||||
|
|
(1) | Nonincomeproducing security. |
(2) | Security 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 September 30, 2023, the aggregate market value of the security amounted to $171,013, representing 0.1% of net assets. This security has been deemed liquid by the investment adviser pursuant to the Funds liquidity procedures approved by the Board of Trustees. |
(3) | Zero coupon bond. |
(4) | Interest rate shown reflects the discount rate at time of purchase. |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SELECT MID CAP CORE VIP FUND
(5) | The table below presents collateral for repurchase agreements. |
|
Coupon |
Maturity Date |
Principal Amount |
Value |
||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 2,933,500 | $ | 2,649,696 |
Open futures contracts at September 30, 2023:
|
Expiration |
Contracts |
Position |
Notional Amount |
Notional Value |
Unrealized Depreciation |
||||||||||||||||||
S&P Midcap 400 E-Mini |
December 2023 | 3 | Long | $ | 778,861 | $ | 756,120 | $ | (22,741 | ) | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||
Total |
|
$ | 778,861 | $ | 756,120 | $ | (22,741 | ) | ||||||||||||||||
|
|
|
|
|
|
Legend:
REITs Real Estate Investment Trusts
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 September 30, 2023 in valuing the Funds 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 |
$ | 197,191,248 | $ | 1,431,986 | * | $ | | $ | 198,623,234 | |||||||
Corporate Bonds & Notes |
| 169,541 | | 169,541 | ||||||||||||
U.S. Treasury Bills |
| 138,346 | | 138,346 | ||||||||||||
Repurchase Agreements |
| 2,597,657 | | 2,597,657 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 197,191,248 | $ | 4,337,530 | $ | | $ | 201,528,778 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Other Financial Instruments |
| |||||||||||||||
Futures Contracts |
||||||||||||||||
Liabilities |
$ | (22,741 | ) | $ | | $ | | $ | (22,741 | ) | ||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | (22,741 | ) | $ | | $ | | $ | (22,741 | ) | ||||||
|
|
|
|
|
|
|
|
* | 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 SHORT DURATION BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Agency Mortgage-Backed Securities 6.5% |
||||||||
Federal Home Loan Mortgage Corp. |
||||||||
3.50% due 6/1/2052 |
$ | 1,115,585 | $ | 959,019 | ||||
4.00% due 6/1/2052 |
1,294,189 | 1,153,615 | ||||||
5.50% due 6/1/2053 |
401,049 | 387,639 | ||||||
Federal National Mortgage Association |
||||||||
3.00% due 5/1/2037 |
2,516,498 | 2,274,863 | ||||||
3.00% due 7/1/2051 |
1,497,548 | 1,240,415 | ||||||
3.00% due 5/1/2052 |
467,973 | 387,399 | ||||||
3.50% due 4/1/2052 |
2,808,389 | 2,417,214 | ||||||
3.50% due 10/1/2052 |
1,632,824 | 1,403,549 | ||||||
4.00% due 6/1/2052 |
1,891,968 | 1,686,465 | ||||||
|
|
|||||||
Total Agency Mortgage-Backed Securities |
11,910,178 | |||||||
|
|
|||||||
Asset-Backed Securities 24.0% |
||||||||
Aligned Data Centers Issuer LLC |
||||||||
Series 2021-1A, Class A2 |
||||||||
1.937% due 8/15/2046(1) |
900,000 | 787,320 | ||||||
Allegro CLO VI Ltd. |
||||||||
Series 2017-2A, Class B |
||||||||
7.07% (3 mo. USD Term SOFR + 1.76%) due 1/17/2031(1)(2) |
1,000,000 | 984,900 | ||||||
American Express Credit Account Master Trust |
||||||||
Series 2022-3, Class A |
||||||||
3.75% due 8/15/2027 |
2,000,000 | 1,936,405 | ||||||
AmeriCredit Automobile Receivables Trust |
||||||||
Series 2020-3, Class C |
||||||||
1.06% due 8/18/2026 |
1,125,000 | 1,070,599 | ||||||
Anchorage Capital CLO 7 Ltd. |
||||||||
Series 2015-7A, Class BR2 |
||||||||
7.377% (3 mo. USD Term SOFR + 2.01%) due 1/28/2031(1)(2) |
1,000,000 | 992,200 | ||||||
Anchorage Capital CLO 17 Ltd. |
||||||||
Series 2021-17A, Class A1 |
||||||||
6.74% (3 mo. USD Term SOFR + 1.43%) due 7/15/2034(1)(2) |
1,000,000 | 989,000 | ||||||
Anchorage Capital CLO 21 Ltd. |
||||||||
Series 2021-21A, Class B |
||||||||
7.338% (3 mo. USD Term SOFR + 2.01%) due 10/20/2034(1)(2) |
1,000,000 | 985,400 | ||||||
Apidos CLO XXII Ltd. |
||||||||
Series 2015-22A, Class A2R |
||||||||
7.088% (3 mo. USD Term SOFR + 1.76%) due 4/20/2031(1)(2) |
1,000,000 | 989,206 | ||||||
Ares XXVII CLO Ltd. |
||||||||
Series 2013-2A, Class BR2 |
||||||||
7.277% (3 mo. USD Term SOFR + 1.91%) due 10/28/2034(1)(2) |
1,000,000 | 988,256 | ||||||
Ares XXVIIIR CLO Ltd. |
||||||||
Series 2018-28RA, Class A2 |
||||||||
6.97% (3 mo. USD Term SOFR + 1.66%) due 10/17/2030(1)(2) |
1,100,000 | 1,083,880 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SHORT DURATION BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Asset-Backed Securities (continued) |
||||||||
Avis Budget Rental Car Funding AESOP LLC |
||||||||
Series 2021-2A, Class A |
||||||||
1.66% due 2/20/2028(1) |
$ | 1,100,000 | $ | 958,993 | ||||
Barings CLO Ltd. |
||||||||
Series 2020-1A, Class AR |
||||||||
6.72% (3 mo. USD Term SOFR + 1.41%) due 10/15/2036(1)(2) |
1,200,000 | 1,192,115 | ||||||
Benefit Street Partners CLO XVI Ltd. |
||||||||
Series 2018-16A, Class BR |
||||||||
7.12% (3 mo. USD Term SOFR + 1.81%) due 1/17/2032(1)(2) |
1,200,000 | 1,180,920 | ||||||
Canyon Capital CLO Ltd. |
||||||||
Series 2022-1A, Class B |
||||||||
7.16% (3 mo. USD Term SOFR + 1.85%) due 4/15/2035(1)(2) |
1,200,000 | 1,178,324 | ||||||
Carlyle U.S. CLO Ltd. |
||||||||
Series 2018-2A, Class A2 |
||||||||
7.17% (3 mo. USD Term SOFR + 1.86%) due 10/15/2031(1)(2) |
1,000,000 | 989,641 | ||||||
CarMax Auto Owner Trust |
||||||||
Series 2020-4, Class B |
||||||||
0.85% due 6/15/2026 |
850,000 | 797,236 | ||||||
Cathedral Lake VI Ltd. |
||||||||
Series 2021-6A, Class AN |
||||||||
6.863% (3 mo. USD Term SOFR + 1.51%) due 4/25/2034(1)(2) |
1,200,000 | 1,191,373 | ||||||
CIFC Funding Ltd. |
||||||||
Series 2013-4A, Class BRR |
||||||||
7.219% (3 mo. USD Term SOFR + 1.86%) due 4/27/2031(1)(2) |
1,000,000 | 987,300 | ||||||
Dominos Pizza Master Issuer LLC |
||||||||
Series 2017-1A, Class A23 |
||||||||
4.118% due 7/25/2047(1) |
708,750 | 654,878 | ||||||
Dryden 53 CLO Ltd. |
||||||||
Series 2017-53A, Class B |
||||||||
6.97% (3 mo. USD Term SOFR + 1.66%) due 1/15/2031(1)(2) |
1,100,000 | 1,078,110 | ||||||
Dryden Senior Loan Fund |
||||||||
Series 2017-47A, Class CR |
||||||||
7.62% (3 mo. USD Term SOFR + 2.31%) due 4/15/2028(1)(2) |
1,000,000 | 997,200 | ||||||
Exeter Automobile Receivables Trust |
||||||||
Series 2022-2A, Class A3 |
||||||||
2.80% due 11/17/2025 |
150,437 | 150,257 | ||||||
Ford Credit Floorplan Master Owner Trust |
||||||||
Series 2020-2, Class A |
||||||||
1.06% due 9/15/2027 |
1,100,000 | 1,002,307 | ||||||
Gulf Stream Meridian 6 Ltd. |
||||||||
Series 2021-6A, Class A1 |
||||||||
6.76% (3 mo. USD Term SOFR + 1.45%) due 1/15/2037(1)(2) |
1,000,000 | 993,400 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SHORT DURATION BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Asset-Backed Securities (continued) |
||||||||
Hertz Vehicle Financing III LLC |
||||||||
Series 2022-3A, Class A |
||||||||
3.37% due 3/25/2025(1) |
$ | 960,000 | $ | 953,226 | ||||
ICG U.S. CLO Ltd. |
||||||||
Series 2022-1A, Class A1 |
||||||||
6.866% (3 mo. USD Term SOFR + 1.54%) due 7/20/2035(1)(2) |
700,000 | 695,940 | ||||||
Jamestown CLO XI Ltd. |
||||||||
Series 2018-11A, Class A2 |
||||||||
7.273% (3 mo. USD Term SOFR + 1.96%) due 7/14/2031(1)(2) |
1,200,000 | 1,188,000 | ||||||
KKR CLO 38 Ltd. |
||||||||
Series 38A, Class A1 |
||||||||
6.628% (3 mo. USD Term SOFR + 1.32%) due 4/15/2033(1)(2) |
1,225,000 | 1,211,852 | ||||||
Madison Park Funding XXIII Ltd. |
||||||||
Series 2017-23A, Class BR |
||||||||
7.169% (3 mo. USD Term SOFR + 1.81%) due 7/27/2031(1)(2) |
1,050,000 | 1,038,345 | ||||||
Master Credit Card Trust |
||||||||
Series 2021-1A, Class A |
||||||||
0.53% due 11/21/2025(1) |
625,000 | 603,639 | ||||||
Neuberger Berman Loan Advisers CLO 26 Ltd. |
||||||||
Series 2017-26A, Class BR |
||||||||
6.972% (3 mo. USD Term SOFR + 1.66%) due 10/18/2030(1)(2) |
1,000,000 | 984,700 | ||||||
Neuberger Berman Loan Advisers CLO 40 Ltd. |
||||||||
Series 2021-40A, Class A |
||||||||
6.63% (3 mo. USD Term SOFR + 1.32%) due 4/16/2033(1)(2) |
1,200,000 | 1,191,840 | ||||||
Nissan Auto Lease Trust |
||||||||
Series 2023-A, Class A4 |
||||||||
4.80% due 7/15/2027 |
700,000 | 689,223 | ||||||
Octagon Investment Partners 36 Ltd. |
||||||||
Series 2018-1A, Class B |
||||||||
6.96% (3 mo. USD Term SOFR + 1.65%) due 4/15/2031(1)(2) |
1,209,375 | 1,186,034 | ||||||
OHA Credit Partners XIV Ltd. |
||||||||
Series 2017-14A, Class B |
||||||||
7.095% (3 mo. USD Term SOFR + 1.76%) due 1/21/2030(1)(2) |
1,000,000 | 984,900 | ||||||
Oscar U.S. Funding XV LLC |
||||||||
Series 2023-1A, Class A3 |
||||||||
5.81% due 12/10/2027(1) |
600,000 | 596,088 | ||||||
PPM CLO 2 Ltd. |
||||||||
Series 2019-2A, Class BR |
||||||||
7.332% (3 mo. USD Term SOFR + 2.01%) due 4/16/2032(1)(2) |
1,000,000 | 986,500 | ||||||
Santander Drive Auto Receivables Trust |
||||||||
Series 2022-3, Class A3 |
||||||||
3.40% due 12/15/2026 |
835,798 | 827,365 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SHORT DURATION BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Asset-Backed Securities (continued) |
||||||||
Santander Retail Auto Lease Trust |
||||||||
Series 2021-C, Class A3 |
||||||||
0.50% due 3/20/2025(1) |
$ | 304,580 | $ | 302,957 | ||||
TIAA CLO IV Ltd. |
||||||||
Series 2018-1A, Class A2 |
||||||||
7.288% (3 mo. USD Term SOFR + 1.96%) due 1/20/2032(1)(2) |
1,170,000 | 1,153,620 | ||||||
Toyota Auto Loan Extended Note Trust |
||||||||
Series 2021-1A, Class A |
||||||||
1.07% due 2/27/2034(1) |
1,735,000 | 1,553,771 | ||||||
Verizon Owner Trust |
||||||||
Series 2020-C, Class A |
||||||||
0.41% due 4/21/2025 |
93,570 | 93,028 | ||||||
Voya CLO Ltd. |
||||||||
Series 2015-3A, Class A3R |
||||||||
7.288% (3 mo. USD Term SOFR + 1.96%) due 10/20/2031(1)(2) |
1,000,000 | 992,957 | ||||||
World Omni Auto Receivables Trust |
||||||||
Series 2021-B, Class A4 |
||||||||
0.69% due 6/15/2027 |
1,200,000 | 1,101,934 | ||||||
World Omni Automobile Lease Securitization Trust |
||||||||
Series 2021-A, Class A4 |
||||||||
0.50% due 11/16/2026 |
1,390,000 | 1,374,563 | ||||||
|
|
|||||||
Total Asset-Backed Securities |
43,869,702 | |||||||
|
|
|||||||
Corporate Bonds & Notes 21.4% |
||||||||
Aerospace & Defense 0.6% |
||||||||
Boeing Co. |
||||||||
2.196% due 2/4/2026 |
200,000 | 183,734 | ||||||
4.875% due 5/1/2025 |
1,000,000 | 982,760 | ||||||
|
|
|||||||
1,166,494 | ||||||||
|
|
|||||||
Agriculture 0.2% |
||||||||
Reynolds American, Inc. |
||||||||
4.45% due 6/12/2025 |
400,000 | 388,616 | ||||||
|
|
|||||||
388,616 | ||||||||
|
|
|||||||
Chemicals 0.3% |
||||||||
LYB International Finance III LLC |
||||||||
1.25% due 10/1/2025 |
600,000 | 546,642 | ||||||
|
|
|||||||
546,642 | ||||||||
|
|
|||||||
Commercial Banks 9.1% |
||||||||
ABN AMRO Bank NV |
||||||||
6.339% (6.339% fixed rate until 9/18/2026; 1 yr. CMT + 1.65% thereafter) |
500,000 | 499,300 | ||||||
Banco Santander SA |
||||||||
2.746% due 5/28/2025 |
1,000,000 | 942,040 | ||||||
Bank of America Corp. |
||||||||
3.093% (3.093% fixed rate until 10/1/2024; 3 mo. USD Term SOFR + 1.35% thereafter) due 10/1/2025(2) |
1,000,000 | 967,110 | ||||||
3.384% (3.384% fixed rate until 4/2/2025; SOFR + 1.33% thereafter) due 4/2/2026(2) |
1,000,000 | 956,690 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SHORT DURATION BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Commercial Banks (continued) |
||||||||
5.08% (5.08% fixed rate until 1/20/2026; SOFR + 1.29% thereafter) due 1/20/2027(2) |
$ | 500,000 | $ | 488,685 | ||||
Barclays PLC |
||||||||
2.852% (2.852% fixed rate until 5/7/2025; SOFR + 2.71% thereafter) due 5/7/2026(2) |
1,000,000 | 943,700 | ||||||
7.325% (7.325% fixed rate until 11/2/2025; 1 yr. CMT + 3.05% thereafter) due 11/2/2026(2) |
200,000 | 203,016 | ||||||
BNP Paribas SA |
||||||||
2.219% (2.219% fixed rate until 6/9/2025; SOFR + 2.07% thereafter) due 6/9/2026(1)(2) |
1,100,000 | 1,026,025 | ||||||
Danske Bank AS |
||||||||
1.621% (1.621% fixed rate until 9/11/2025; 1 yr. CMT + 1.35% thereafter) |
200,000 | 182,054 | ||||||
Deutsche Bank AG |
||||||||
2.129% (2.129% fixed rate until 11/24/2025; SOFR + 1.87% thereafter) due 11/24/2026(2) |
150,000 | 135,603 | ||||||
Fifth Third Bancorp |
||||||||
2.375% due 1/28/2025 |
1,000,000 | 949,140 | ||||||
Fifth Third Bank NA |
||||||||
5.852% (5.852% fixed rate until 10/27/2024; SOFR + 1.23% thereafter) due 10/27/2025(2) |
250,000 | 245,927 | ||||||
Huntington Bancshares, Inc. |
||||||||
2.625% due 8/6/2024 |
1,000,000 | 966,210 | ||||||
Huntington National Bank |
||||||||
5.699% (5.699% fixed rate until 11/18/2024; SOFR + 1.22% thereafter) due 11/18/2025(2) |
250,000 | 244,303 | ||||||
JPMorgan Chase & Co. |
||||||||
2.005% (2.005% fixed rate until 3/13/2025; 3 mo. USD Term SOFR + 1.59% thereafter) |
200,000 | 188,352 | ||||||
3.845% (3.845% fixed rate until 6/14/2024; SOFR + 0.98% thereafter) due 6/14/2025(2) |
1,000,000 | 982,310 | ||||||
Mitsubishi UFJ Financial Group, Inc. |
||||||||
1.412% due 7/17/2025 |
550,000 | 506,973 | ||||||
5.719% (5.719% fixed rate until 2/20/2025; 1 yr. CMT + 1.08% thereafter) due 2/20/2026(2) |
500,000 | 497,290 | ||||||
Morgan Stanley |
||||||||
2.72% (2.72% fixed rate until 7/22/2024; SOFR + 1.15% thereafter) due 7/22/2025(2) |
1,000,000 | 970,440 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SHORT DURATION BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Commercial Banks (continued) |
||||||||
5.05% (5.05% fixed rate until 1/28/2026; SOFR + 1.30% thereafter) due 1/28/2027(2) |
$ | 300,000 | $ | 294,231 | ||||
NatWest Group PLC |
||||||||
5.847% (5.847% fixed rate until 3/2/2026; 1 yr. CMT + 1.35% thereafter) due 3/2/2027(2) |
250,000 | 246,637 | ||||||
7.472% (7.472% fixed rate until 11/10/2025; 1 yr. CMT + 2.85% thereafter) due 11/10/2026(2) |
300,000 | 306,003 | ||||||
Truist Bank |
||||||||
3.625% due 9/16/2025 |
250,000 | 236,138 | ||||||
Truist Financial Corp. |
||||||||
2.50% due 8/1/2024 |
1,000,000 | 969,890 | ||||||
4.00% due 5/1/2025 |
1,000,000 | 964,940 | ||||||
UBS Group AG |
||||||||
3.75% due 3/26/2025 |
900,000 | 865,422 | ||||||
Wells Fargo Bank NA |
||||||||
5.45% due 8/7/2026 |
800,000 | 796,000 | ||||||
|
|
|||||||
16,574,429 | ||||||||
|
|
|||||||
Commercial Services 0.6% |
||||||||
Global Payments, Inc. |
||||||||
2.65% due 2/15/2025 |
1,100,000 | 1,048,190 | ||||||
|
|
|||||||
1,048,190 | ||||||||
|
|
|||||||
Cosmetics & Personal Care 0.5% |
||||||||
Procter & Gamble Co. |
||||||||
1.00% due 4/23/2026 |
1,100,000 | 994,246 | ||||||
|
|
|||||||
994,246 | ||||||||
|
|
|||||||
Diversified Financial Services 2.0% |
||||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust |
||||||||
1.65% due 10/29/2024 |
1,200,000 | 1,141,824 | ||||||
4.875% due 1/16/2024 |
550,000 | 547,954 | ||||||
6.50% due 7/15/2025 |
800,000 | 800,392 | ||||||
Air Lease Corp. |
||||||||
2.875% due 1/15/2026 |
200,000 | 185,998 | ||||||
Charles Schwab Corp. |
||||||||
1.15% due 5/13/2026 |
200,000 | 176,744 | ||||||
Synchrony Financial |
||||||||
4.25% due 8/15/2024 |
800,000 | 780,968 | ||||||
|
|
|||||||
3,633,880 | ||||||||
|
|
|||||||
Electric 1.0% |
||||||||
DTE Energy Co. |
||||||||
Series F |
||||||||
1.05% due 6/1/2025 |
1,100,000 | 1,014,563 | ||||||
Pacific Gas & Electric Co. |
||||||||
3.45% due 7/1/2025 |
300,000 | 284,712 | ||||||
Public Service Enterprise Group, Inc. |
||||||||
2.875% due 6/15/2024 |
500,000 | 488,835 | ||||||
|
|
|||||||
1,788,110 | ||||||||
|
|
|||||||
Healthcare-Services 0.9% |
||||||||
Elevance Health, Inc. |
||||||||
4.90% due 2/8/2026 |
200,000 | 196,078 | ||||||
UnitedHealth Group, Inc. |
||||||||
1.15% due 5/15/2026 |
1,100,000 | 988,559 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SHORT DURATION BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Healthcare-Services (continued) |
||||||||
3.10% due 3/15/2026 |
$ | 400,000 | $ | 379,748 | ||||
|
|
|||||||
1,564,385 | ||||||||
|
|
|||||||
Insurance 0.6% |
||||||||
Corebridge Financial, Inc. |
||||||||
3.50% due 4/4/2025 |
400,000 | 383,716 | ||||||
Progressive Corp. |
||||||||
2.45% due 1/15/2027 |
800,000 | 727,392 | ||||||
|
|
|||||||
1,111,108 | ||||||||
|
|
|||||||
Lodging 0.1% |
||||||||
Marriott International, Inc. |
||||||||
Series R |
||||||||
3.125% due 6/15/2026 |
200,000 | 187,014 | ||||||
|
|
|||||||
187,014 | ||||||||
|
|
|||||||
Media 0.6% |
||||||||
Charter Communications Operating LLC/Charter Communications Operating Capital |
||||||||
4.908% due 7/23/2025 |
1,000,000 | 977,240 | ||||||
Discovery Communications LLC |
||||||||
4.90% due 3/11/2026 |
200,000 | 194,882 | ||||||
|
|
|||||||
1,172,122 | ||||||||
|
|
|||||||
Oil & Gas 1.0% |
||||||||
Canadian Natural Resources Ltd. |
||||||||
3.90% due 2/1/2025 |
500,000 | 485,250 | ||||||
Diamondback Energy, Inc. |
||||||||
3.25% due 12/1/2026 |
200,000 | 186,816 | ||||||
Occidental Petroleum Corp. |
||||||||
5.875% due 9/1/2025 |
200,000 | 199,090 | ||||||
Shell International Finance BV |
||||||||
2.875% due 5/10/2026 |
1,000,000 | 943,120 | ||||||
|
|
|||||||
1,814,276 | ||||||||
|
|
|||||||
Pharmaceuticals 0.3% |
||||||||
Astrazeneca Finance LLC |
||||||||
1.20% due 5/28/2026 |
500,000 | 449,010 | ||||||
CVS Health Corp. |
||||||||
3.875% due 7/20/2025 |
200,000 | 193,192 | ||||||
|
|
|||||||
642,202 | ||||||||
|
|
|||||||
Pipelines 1.2% |
||||||||
Energy Transfer LP |
||||||||
2.90% due 5/15/2025 |
1,100,000 | 1,044,747 | ||||||
TransCanada PipeLines Ltd. |
||||||||
6.203% due 3/9/2026 |
500,000 | 499,630 | ||||||
Western Midstream Operating LP |
||||||||
3.10% due 2/1/2025 |
600,000 | 574,836 | ||||||
|
|
|||||||
2,119,213 | ||||||||
|
|
|||||||
Real Estate Investment Trusts 1.6% |
||||||||
American Tower Corp. |
||||||||
2.40% due 3/15/2025 |
1,200,000 | 1,137,456 | ||||||
Essex Portfolio LP |
||||||||
3.50% due 4/1/2025 |
500,000 | 481,005 | ||||||
NNN REIT, Inc. |
||||||||
3.90% due 6/15/2024 |
1,000,000 | 983,100 | ||||||
Simon Property Group LP |
||||||||
3.375% due 10/1/2024 |
250,000 | 243,273 | ||||||
|
|
|||||||
2,844,834 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SHORT DURATION BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Corporate Bonds & Notes (continued) |
||||||||
Semiconductors 0.1% |
||||||||
Broadcom, Inc. |
||||||||
3.459% due 9/15/2026 |
$ | 200,000 | $ | 187,644 | ||||
|
|
|||||||
187,644 | ||||||||
|
|
|||||||
Software 0.3% |
||||||||
Fiserv, Inc. |
||||||||
3.85% due 6/1/2025 |
200,000 | 193,268 | ||||||
Oracle Corp. |
||||||||
2.50% due 4/1/2025 |
300,000 | 285,582 | ||||||
|
|
|||||||
478,850 | ||||||||
|
|
|||||||
Telecommunications 0.4% |
||||||||
AT&T, Inc. |
||||||||
1.70% due 3/25/2026 |
200,000 | 181,456 | ||||||
T-Mobile USA, Inc. |
||||||||
3.50% due 4/15/2025 |
200,000 | 192,938 | ||||||
Verizon Communications, Inc. |
||||||||
3.376% due 2/15/2025 |
350,000 | 338,657 | ||||||
|
|
|||||||
713,051 | ||||||||
|
|
|||||||
Total Corporate Bonds & Notes |
38,975,306 | |||||||
|
|
|||||||
Non-Agency Mortgage-Backed Securities 5.9% |
||||||||
Benchmark Mortgage Trust |
||||||||
Series 2018-B3, Class AS |
||||||||
4.195% due 4/10/2051(2)(3) |
1,150,000 | 1,025,338 | ||||||
Commercial Mortgage Trust |
||||||||
Series 2017-COR2, Class A3 |
||||||||
3.51% due 9/10/2050 |
1,200,000 | 1,088,242 | ||||||
Series 2019-GC44, Class AM |
||||||||
3.263% due 8/15/2057 |
1,085,000 | 884,492 | ||||||
DBGS Mortgage Trust |
||||||||
Series 2018-C1, Class AM |
||||||||
4.777% due 10/15/2051(2)(3) |
1,100,000 | 984,544 | ||||||
DBUBS Mortgage Trust |
||||||||
Series 2017-BRBK, Class A |
||||||||
3.452% due 10/10/2034(1) |
793,000 | 723,047 | ||||||
Freddie Mac STACR REMIC Trust |
||||||||
Series 2021-DNA7, Class M2 |
||||||||
7.115% due 11/25/2041(1)(2)(3) |
900,000 | 880,179 | ||||||
Series 2021-HQA4, Class M1 |
||||||||
6.265% due 12/25/2041(1)(2)(3) |
539,359 | 527,522 | ||||||
Series 2022-DNA1, Class M1A |
||||||||
6.315% due 1/25/2042(1)(2)(3) |
451,590 | 447,333 | ||||||
Series 2022-HQA3, Class M1A |
||||||||
7.615% due 8/25/2042(1)(2)(3) |
988,321 | 1,001,292 | ||||||
Hilton USA Trust |
||||||||
Series 2016-HHV, Class A |
||||||||
3.719% due 11/5/2038(1) |
845,000 | 781,817 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust |
||||||||
Series 2013-C9, Class AS |
||||||||
3.456% due 5/15/2046 |
176,760 | 163,638 | ||||||
Wells Fargo Commercial Mortgage Trust |
||||||||
Series 2015-NXS4, Class A4 |
||||||||
3.718% due 12/15/2048 |
1,380,000 | 1,307,602 | ||||||
Series 2016-LC24, Class A4 |
||||||||
2.942% due 10/15/2049 |
1,000,000 | 913,428 | ||||||
|
|
|||||||
Total Non-Agency Mortgage-Backed Securities |
10,728,474 | |||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SHORT DURATION BOND VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
U.S. Government Agencies 2.1% |
||||||||
Federal Farm Credit Banks Funding Corp. |
||||||||
2.64% due 4/8/2026 |
$ | 4,000,000 | $ | 3,772,360 | ||||
|
|
|||||||
Total U.S. Government Agencies |
3,772,360 | |||||||
|
|
|||||||
U.S. Government Securities 18.6% |
||||||||
U.S. Treasury Notes |
||||||||
5.00% due 9/30/2025 |
34,000,000 | 33,965,738 | ||||||
|
|
|||||||
Total U.S. Government Securities |
33,965,738 | |||||||
|
|
|||||||
U.S. Treasury Bills 14.6% |
||||||||
U.S. Treasury Bills |
||||||||
5.494% due 1/18/2024(4) |
7,000,000 | 6,888,070 | ||||||
5.515% due 4/18/2024(4) |
8,500,000 | 8,252,383 | ||||||
5.523% due 8/8/2024(4) |
5,000,000 | 4,774,741 | ||||||
5.534% due 5/16/2024(4) |
7,000,000 | 6,767,388 | ||||||
|
|
|||||||
Total U.S. Treasury Bills |
26,682,582 | |||||||
|
|
|||||||
Shares | Value | |||||||
Exchange-Traded Funds 4.5% |
||||||||
Vanguard Short-Term Inflation-Protected Securities ETF |
173,500 | 8,203,080 | ||||||
|
|
|||||||
Total Exchange-Traded Funds |
8,203,080 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
Repurchase Agreements 0.5% |
||||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $888,375, due 10/2/2023(5) |
$ | 888,256 | 888,256 | |||||
|
|
|||||||
Total Repurchase Agreements |
888,256 | |||||||
|
|
|||||||
Total Investments 98.1% |
178,995,676 | |||||||
|
|
|||||||
Assets in excess of other liabilities 1.9% |
3,531,239 | |||||||
|
|
|||||||
Total Net Assets 100.0% |
$ | 182,526,915 | ||||||
|
|
(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 September 30, 2023, the aggregate market value of these securities amounted to $40,895,354, representing 22.4% of net assets. These securities have been deemed liquid by the investment adviser pursuant to the Funds 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 September 30, 2023. |
(3) | Variable coupon rate based on weighted average interest rate of underlying mortgages. |
(4) | Interest rate shown reflects the discount rate at time of purchase. |
(5) | The table below presents collateral for repurchase agreements. |
|
Coupon |
Maturity Date |
Principal Amount |
Value | ||||||||||
U.S. Treasury Note |
0.75% | 4/30/2026 | $ | 1,003,100 | $ | 906,054 |
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SHORT DURATION BOND VIP FUND
Open futures contracts at September 30, 2023:
Type |
Expiration | Contracts | Position | Notional Amount |
Notional Value |
Unrealized Depreciation |
||||||||||||||||
U.S. 2-Year Treasury Note |
December 2023 | 286 | Long | $ | 58,181,407 | $ | 57,975,328 | $ | (206,079 | ) | ||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Total |
|
$ | 58,181,407 | $ | 57,975,328 | $ | (206,079 | ) | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Type |
Expiration | Contracts | Position | Notional Amount |
Notional Value |
Unrealized Appreciation |
||||||||||||||||
U.S. 5-Year Treasury Note |
December 2023 | 38 | Short | $ | (4,041,235 | ) | $ | (4,003,656 | ) | $ | 37,579 | |||||||||||
U.S. Long Bond |
December 2023 | 30 | Short | (3,551,037 | ) | (3,413,438 | ) | 137,599 | ||||||||||||||
U.S. Ultra 10-Year Treasury Note |
December 2023 | 16 | Short | (1,835,072 | ) | (1,785,000 | ) | 50,072 | ||||||||||||||
U.S. Ultra Bond |
December 2023 | 4 | Short | (503,862 | ) | (474,750 | ) | 29,112 | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Total |
|
$ | (9,931,206 | ) | $ | (9,676,844 | ) | $ | 254,362 | |||||||||||||
|
|
|
|
|
|
Centrally cleared credit default swap agreements buy protection(6):
|
Implied Credit Spread at 9/30/2023(7) |
Notional Amount(8) |
Maturity |
(Pay)/Receive Fixed Rate |
Periodic Payment Frequency |
Upfront Payments |
Value |
Unrealized Depreciation |
||||||||||||||||||||||||||||
CDX.NA.HY.S40 |
4.58 | % | USD | 19,750,000 | 6/20/2028 | (5.00 | )% | Quarterly | $ | (222,058) | $ | (309,558) | $ | (87,500) |
(6) | 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. |
(7) | 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 entitys credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the swap agreement. |
(8) | The notional amount represents the maximum potential amount the Fund could be required to pay 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
CMT Constant Maturity Treasury
REMIC Real Estate Mortgage Investment Conduit
SOFR Secured Overnight Financing Rate
STACR Structured Agency Credit Risk
USD United States Dollar
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SHORT DURATION BOND VIP FUND
The following is a summary of the inputs used as of September 30, 2023 in valuing the Funds 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 |
$ | | $ | 11,910,178 | $ | | $ | 11,910,178 | ||||||||
Asset-Backed Securities |
| 43,869,702 | | 43,869,702 | ||||||||||||
Corporate Bonds & Notes |
| 38,975,306 | | 38,975,306 | ||||||||||||
Non-Agency Mortgage-Backed Securities |
| 10,728,474 | | 10,728,474 | ||||||||||||
U.S. Government Agencies |
| 3,772,360 | | 3,772,360 | ||||||||||||
U.S. Government Securities |
| 33,965,738 | | 33,965,738 | ||||||||||||
U.S. Treasury Bills |
| 26,682,582 | | 26,682,582 | ||||||||||||
Exchange-Traded Funds |
8,203,080 | | | 8,203,080 | ||||||||||||
Repurchase Agreements |
| 888,256 | | 888,256 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 8,203,080 | $ | 170,792,596 | $ | | $ | 178,995,676 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Other Financial Instruments |
||||||||||||||||
Futures Contracts |
|
|||||||||||||||
Assets |
$ | 254,362 | $ | | $ | | $ | 254,362 | ||||||||
Liabilities |
(206,079 | ) | | | (206,079 | ) | ||||||||||
Swap Contracts |
|
|||||||||||||||
Liabilities |
| (87,500 | ) | | (87,500 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 48,283 | $ | (87,500 | ) | $ | | $ | (39,217 | ) | ||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SMALL-MID CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 95.3% |
| |||||||
Aerospace & Defense 2.9% |
| |||||||
Melrose Industries PLC (United Kingdom) |
626,007 | $ | 3,567,685 | |||||
MTU Aero Engines AG (Germany) |
22,566 | 4,099,943 | ||||||
|
|
|||||||
7,667,628 | ||||||||
|
|
|||||||
Banks 2.0% |
| |||||||
Pinnacle Financial Partners, Inc. |
34,602 | 2,319,718 | ||||||
Webster Financial Corp. |
74,352 | 2,997,129 | ||||||
|
|
|||||||
5,316,847 | ||||||||
|
|
|||||||
Biotechnology 0.1% |
| |||||||
Sage Therapeutics, Inc.(1) |
12,973 | 266,984 | ||||||
|
|
|||||||
266,984 | ||||||||
|
|
|||||||
Building Products 6.0% |
| |||||||
AZEK Co., Inc.(1) |
114,117 | 3,393,839 | ||||||
Carlisle Cos., Inc. |
20,960 | 5,434,090 | ||||||
Masonite International Corp.(1) |
71,968 | 6,708,857 | ||||||
|
|
|||||||
15,536,786 | ||||||||
|
|
|||||||
Capital Markets 2.6% |
| |||||||
Cboe Global Markets, Inc. |
25,268 | 3,947,114 | ||||||
Raymond James Financial, Inc. |
27,835 | 2,795,469 | ||||||
|
|
|||||||
6,742,583 | ||||||||
|
|
|||||||
Chemicals 4.9% |
| |||||||
Ashland, Inc. |
66,991 | 5,471,825 | ||||||
Olin Corp. |
73,056 | 3,651,339 | ||||||
Westlake Corp. |
29,367 | 3,661,184 | ||||||
|
|
|||||||
12,784,348 | ||||||||
|
|
|||||||
Commercial Services & Supplies 2.3% |
| |||||||
Republic Services, Inc. |
16,846 | 2,400,723 | ||||||
Stericycle, Inc.(1) |
77,877 | 3,481,881 | ||||||
|
|
|||||||
5,882,604 | ||||||||
|
|
|||||||
Construction & Engineering 1.2% |
| |||||||
API Group Corp.(1) |
115,508 | 2,995,122 | ||||||
|
|
|||||||
2,995,122 | ||||||||
|
|
|||||||
Containers & Packaging 1.6% |
| |||||||
Crown Holdings, Inc. |
47,986 | 4,245,801 | ||||||
|
|
|||||||
4,245,801 | ||||||||
|
|
|||||||
Diversified Consumer Services 1.2% |
| |||||||
Service Corp. International |
55,533 | 3,173,156 | ||||||
|
|
|||||||
3,173,156 | ||||||||
|
|
|||||||
Electrical Equipment 3.3% |
| |||||||
Atkore, Inc.(1) |
36,912 | 5,506,901 | ||||||
Regal Rexnord Corp. |
21,389 | 3,056,061 | ||||||
|
|
|||||||
8,562,962 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 3.5% |
| |||||||
Littelfuse, Inc. |
14,777 | 3,654,648 | ||||||
Teledyne Technologies, Inc.(1) |
13,371 | 5,463,123 | ||||||
|
|
|||||||
9,117,771 | ||||||||
|
|
|||||||
Entertainment 1.1% |
| |||||||
Warner Music Group Corp., Class A |
92,564 | 2,906,510 | ||||||
|
|
|||||||
2,906,510 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SMALL-MID CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Financial Services 1.4% |
| |||||||
Essent Group Ltd. |
75,999 | $ | 3,593,993 | |||||
|
|
|||||||
3,593,993 | ||||||||
|
|
|||||||
Food Products 1.2% |
| |||||||
Nomad Foods Ltd.(1) |
206,996 | 3,150,479 | ||||||
|
|
|||||||
3,150,479 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 4.8% |
| |||||||
Haemonetics Corp.(1) |
46,629 | 4,177,026 | ||||||
Integer Holdings Corp.(1) |
52,978 | 4,155,064 | ||||||
LivaNova PLC(1) |
81,057 | 4,286,294 | ||||||
|
|
|||||||
12,618,384 | ||||||||
|
|
|||||||
Health Care Providers & Services 3.1% |
| |||||||
HealthEquity, Inc.(1) |
76,487 | 5,587,375 | ||||||
Humana, Inc. |
5,249 | 2,553,744 | ||||||
|
|
|||||||
8,141,119 | ||||||||
|
|
|||||||
Health Care Technology 0.5% |
| |||||||
Schrodinger, Inc.(1) |
42,143 | 1,191,383 | ||||||
|
|
|||||||
1,191,383 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 1.1% |
| |||||||
Planet Fitness, Inc., Class A(1) |
55,543 | 2,731,605 | ||||||
|
|
|||||||
2,731,605 | ||||||||
|
|
|||||||
Household Durables 1.0% |
| |||||||
Mohawk Industries, Inc.(1) |
30,384 | 2,607,251 | ||||||
|
|
|||||||
2,607,251 | ||||||||
|
|
|||||||
Household Products 1.2% |
| |||||||
Church & Dwight Co., Inc. |
34,843 | 3,192,664 | ||||||
|
|
|||||||
3,192,664 | ||||||||
|
|
|||||||
Industrial REITs 1.6% |
| |||||||
Terreno Realty Corp. |
73,462 | 4,172,642 | ||||||
|
|
|||||||
4,172,642 | ||||||||
|
|
|||||||
Insurance 6.5% |
| |||||||
Arch Capital Group Ltd.(1) |
56,369 | 4,493,173 | ||||||
Axis Capital Holdings Ltd. |
75,659 | 4,264,898 | ||||||
First American Financial Corp. |
65,191 | 3,682,640 | ||||||
Reinsurance Group of America, Inc. |
30,282 | 4,396,643 | ||||||
|
|
|||||||
16,837,354 | ||||||||
|
|
|||||||
Interactive Media & Services 0.8% |
| |||||||
Bumble, Inc., Class A(1) |
139,327 | 2,078,759 | ||||||
|
|
|||||||
2,078,759 | ||||||||
|
|
|||||||
IT Services 1.8% |
| |||||||
Okta, Inc.(1) |
59,075 | 4,815,203 | ||||||
|
|
|||||||
4,815,203 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 4.4% |
| |||||||
Azenta, Inc.(1) |
86,560 | 4,344,446 | ||||||
Bio-Rad Laboratories, Inc., Class A(1) |
14,998 | 5,376,033 | ||||||
Sotera Health Co.(1) |
117,763 | 1,764,090 | ||||||
|
|
|||||||
11,484,569 | ||||||||
|
|
|||||||
Machinery 1.1% |
| |||||||
Ingersoll Rand, Inc. |
46,651 | 2,972,602 | ||||||
|
|
|||||||
2,972,602 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SMALL-MID CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Metals & Mining 1.6% |
| |||||||
Reliance Steel & Aluminum Co. |
7,578 | $ | 1,987,179 | |||||
Steel Dynamics, Inc. |
21,364 | 2,290,648 | ||||||
|
|
|||||||
4,277,827 | ||||||||
|
|
|||||||
Personal Care Products 0.1% |
| |||||||
Honest Co., Inc.(1) |
223,691 | 281,851 | ||||||
|
|
|||||||
281,851 | ||||||||
|
|
|||||||
Professional Services 5.4% |
| |||||||
CACI International, Inc., Class A(1) |
12,200 | 3,829,946 | ||||||
Dun & Bradstreet Holdings, Inc. |
244,491 | 2,442,465 | ||||||
TransUnion |
55,092 | 3,955,055 | ||||||
WNS Holdings Ltd., ADR(1) |
57,237 | 3,918,445 | ||||||
|
|
|||||||
14,145,911 | ||||||||
|
|
|||||||
Residential REITs 4.7% |
| |||||||
American Homes 4 Rent, Class A |
128,548 | 4,330,782 | ||||||
Apartment Income REIT Corp. |
106,041 | 3,255,459 | ||||||
Sun Communities, Inc. |
39,689 | 4,696,796 | ||||||
|
|
|||||||
12,283,037 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 3.4% |
| |||||||
Marvell Technology, Inc. |
80,980 | 4,383,447 | ||||||
ON Semiconductor Corp.(1) |
48,231 | 4,483,072 | ||||||
|
|
|||||||
8,866,519 | ||||||||
|
|
|||||||
Software 6.3% |
| |||||||
Instructure Holdings, Inc.(1) |
141,040 | 3,582,416 | ||||||
PagerDuty, Inc.(1) |
175,807 | 3,953,899 | ||||||
Q2 Holdings, Inc.(1) |
100,354 | 3,238,423 | ||||||
Riskified Ltd., Class A(1) |
216,150 | 968,352 | ||||||
SPS Commerce, Inc.(1) |
14,547 | 2,481,864 | ||||||
WalkMe Ltd.(1) |
240,560 | 2,280,509 | ||||||
|
|
|||||||
16,505,463 | ||||||||
|
|
|||||||
Specialized REITs 3.0% |
| |||||||
SBA Communications Corp. |
18,781 | 3,759,393 | ||||||
VICI Properties, Inc. |
142,939 | 4,159,525 | ||||||
|
|
|||||||
7,918,918 | ||||||||
|
|
|||||||
Specialty Retail 4.6% |
| |||||||
Burlington Stores, Inc.(1) |
28,046 | 3,794,624 | ||||||
Leslies, Inc.(1) |
487,461 | 2,759,029 | ||||||
National Vision Holdings, Inc.(1) |
106,269 | 1,719,432 | ||||||
Revolve Group, Inc.(1) |
154,499 | 2,102,731 | ||||||
Tractor Supply Co. |
7,789 | 1,581,557 | ||||||
|
|
|||||||
11,957,373 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods 0.9% |
| |||||||
Deckers Outdoor Corp.(1) |
4,781 | 2,457,864 | ||||||
|
|
|||||||
2,457,864 | ||||||||
|
|
|||||||
Trading Companies & Distributors 2.1% |
| |||||||
Air Lease Corp. |
83,168 | 3,277,651 | ||||||
United Rentals, Inc. |
5,104 | 2,269,085 | ||||||
|
|
|||||||
5,546,736 | ||||||||
|
|
|||||||
Total Common Stocks |
|
249,028,608 | ||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN SMALL-MID CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Exchange-Traded Funds 1.2% |
| |||||||
SPDR S&P Biotech ETF |
42,757 | $ | 3,122,116 | |||||
|
|
|||||||
Total Exchange-Traded Funds |
|
3,122,116 | ||||||
|
|
|||||||
Principal Amount |
Value | |||||||
Repurchase Agreements 3.6% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $9,301,243, due 10/2/2023(2) |
$ | 9,300,003 | 9,300,003 | |||||
|
|
|||||||
Total Repurchase Agreements |
|
9,300,003 | ||||||
|
|
|||||||
Total Investments 100.1% |
|
261,450,727 | ||||||
|
|
|||||||
Liabilities in excess of other assets (0.1)% |
|
(152,365 | ) | |||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 261,298,362 | |||||
|
|
(1) | Non-income-producing security. |
(2) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 10,502,100 | $ | 9,486,065 |
Legend:
ADR American Depositary Receipt
REITs Real Estate Investment Trusts
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 September 30, 2023 in valuing the Funds 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 |
$ | 241,360,980 | $ | 7,667,628 | * | $ | | $ | 249,028,608 | |||||||
Exchange-Traded Funds |
3,122,116 | | | 3,122,116 | ||||||||||||
Repurchase Agreements |
| 9,300,003 | | 9,300,003 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 244,483,096 | $ | 16,967,631 | $ | | $ | 261,450,727 | ||||||||
|
|
|
|
|
|
|
|
* | 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
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks 99.8% |
| |||||||
Aerospace & Defense 1.5% |
| |||||||
Lockheed Martin Corp. |
9,165 | $ | 3,748,118 | |||||
|
|
|||||||
3,748,118 | ||||||||
|
|
|||||||
Banks 2.0% |
| |||||||
JPMorgan Chase & Co. |
34,175 | 4,956,058 | ||||||
|
|
|||||||
4,956,058 | ||||||||
|
|
|||||||
Beverages 1.3% |
| |||||||
Coca-Cola Co. |
60,644 | 3,394,851 | ||||||
|
|
|||||||
3,394,851 | ||||||||
|
|
|||||||
Biotechnology 4.8% |
| |||||||
AbbVie, Inc. |
41,187 | 6,139,334 | ||||||
Gilead Sciences, Inc. |
44,344 | 3,323,140 | ||||||
Vertex Pharmaceuticals, Inc.(1) |
7,654 | 2,661,602 | ||||||
|
|
|||||||
12,124,076 | ||||||||
|
|
|||||||
Broadline Retail 0.9% |
| |||||||
Amazon.com, Inc.(1) |
17,796 | 2,262,227 | ||||||
|
|
|||||||
2,262,227 | ||||||||
|
|
|||||||
Capital Markets 2.9% |
| |||||||
Cboe Global Markets, Inc. |
15,241 | 2,380,797 | ||||||
Houlihan Lokey, Inc. |
17,846 | 1,911,663 | ||||||
MSCI, Inc. |
2,495 | 1,280,134 | ||||||
S&P Global, Inc. |
4,821 | 1,761,642 | ||||||
|
|
|||||||
7,334,236 | ||||||||
|
|
|||||||
Chemicals 0.7% |
| |||||||
LyondellBasell Industries NV, Class A |
17,607 | 1,667,383 | ||||||
|
|
|||||||
1,667,383 | ||||||||
|
|
|||||||
Construction & Engineering 0.7% |
| |||||||
AECOM |
20,114 | 1,670,267 | ||||||
|
|
|||||||
1,670,267 | ||||||||
|
|
|||||||
Consumer Staples Distribution & Retail 2.5% |
| |||||||
Koninklijke Ahold Delhaize NV, ADR |
75,204 | 2,262,136 | ||||||
Walmart, Inc. |
25,723 | 4,113,880 | ||||||
|
|
|||||||
6,376,016 | ||||||||
|
|
|||||||
Diversified Telecommunication Services 0.8% |
| |||||||
Verizon Communications, Inc. |
59,106 | 1,915,625 | ||||||
|
|
|||||||
1,915,625 | ||||||||
|
|
|||||||
Electric Utilities 1.6% |
| |||||||
American Electric Power Co., Inc. |
33,934 | 2,552,515 | ||||||
NextEra Energy, Inc. |
26,457 | 1,515,722 | ||||||
|
|
|||||||
4,068,237 | ||||||||
|
|
|||||||
Electrical Equipment 0.5% |
| |||||||
Eaton Corp. PLC |
5,810 | 1,239,157 | ||||||
|
|
|||||||
1,239,157 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 0.6% |
| |||||||
CDW Corp. |
7,456 | 1,504,323 | ||||||
|
|
|||||||
1,504,323 | ||||||||
|
|
|||||||
Entertainment 1.1% |
| |||||||
Electronic Arts, Inc. |
23,310 | 2,806,524 | ||||||
|
|
|||||||
2,806,524 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN STRATEGIC LARGE CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Financial Services 3.6% |
| |||||||
Fidelity National Information Services, Inc. |
18,346 | $ | 1,013,983 | |||||
Mastercard, Inc., Class A |
6,661 | 2,637,157 | ||||||
Visa, Inc., Class A |
23,370 | 5,375,334 | ||||||
|
|
|||||||
9,026,474 | ||||||||
|
|
|||||||
Food Products 0.4% |
| |||||||
General Mills, Inc. |
17,615 | 1,127,184 | ||||||
|
|
|||||||
1,127,184 | ||||||||
|
|
|||||||
Ground Transportation 0.5% |
| |||||||
Knight-Swift Transportation Holdings, Inc. |
23,355 | 1,171,253 | ||||||
|
|
|||||||
1,171,253 | ||||||||
|
|
|||||||
Health Care Providers & Services 5.6% |
| |||||||
Cencora, Inc. |
6,979 | 1,256,011 | ||||||
Elevance Health, Inc. |
5,723 | 2,491,909 | ||||||
McKesson Corp. |
8,232 | 3,579,685 | ||||||
UnitedHealth Group, Inc. |
13,201 | 6,655,812 | ||||||
|
|
|||||||
13,983,417 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 1.8% |
| |||||||
Booking Holdings, Inc.(1) |
745 | 2,297,543 | ||||||
Compass Group PLC, ADR |
93,229 | 2,270,126 | ||||||
|
|
|||||||
4,567,669 | ||||||||
|
|
|||||||
Household Products 1.3% |
| |||||||
Procter & Gamble Co. |
21,943 | 3,200,606 | ||||||
|
|
|||||||
3,200,606 | ||||||||
|
|
|||||||
Industrial REITs 0.5% |
| |||||||
First Industrial Realty Trust, Inc. |
25,531 | 1,215,020 | ||||||
|
|
|||||||
1,215,020 | ||||||||
|
|
|||||||
Insurance 5.0% |
| |||||||
Everest Group Ltd. |
8,201 | 3,048,066 | ||||||
Marsh & McLennan Cos., Inc. |
22,704 | 4,320,571 | ||||||
Progressive Corp. |
13,845 | 1,928,608 | ||||||
Selective Insurance Group, Inc. |
14,421 | 1,487,815 | ||||||
Willis Towers Watson PLC |
9,015 | 1,883,774 | ||||||
|
|
|||||||
12,668,834 | ||||||||
|
|
|||||||
Interactive Media & Services 6.7% |
| |||||||
Alphabet, Inc., Class C(1) |
98,184 | 12,945,561 | ||||||
Meta Platforms, Inc., Class A(1) |
13,320 | 3,998,797 | ||||||
|
|
|||||||
16,944,358 | ||||||||
|
|
|||||||
IT Services 2.8% |
| |||||||
Amdocs Ltd. |
37,339 | 3,154,772 | ||||||
VeriSign, Inc.(1) |
19,215 | 3,891,614 | ||||||
|
|
|||||||
7,046,386 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 0.4% |
| |||||||
Thermo Fisher Scientific, Inc. |
2,039 | 1,032,081 | ||||||
|
|
|||||||
1,032,081 | ||||||||
|
|
|||||||
Media 1.7% |
| |||||||
Comcast Corp., Class A |
98,845 | 4,382,787 | ||||||
|
|
|||||||
4,382,787 | ||||||||
|
|
|||||||
Multi-Utilities 1.2% |
| |||||||
Ameren Corp. |
23,579 | 1,764,417 | ||||||
CenterPoint Energy, Inc. |
49,937 | 1,340,808 | ||||||
|
|
|||||||
3,105,225 | ||||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN STRATEGIC LARGE CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Shares | Value | ||||||
Common Stocks (continued) |
| |||||||
Oil, Gas & Consumable Fuels 2.7% |
| |||||||
Exxon Mobil Corp. |
11,136 | $ | 1,309,371 | |||||
Shell PLC, ADR |
84,791 | 5,458,844 | ||||||
|
|
|||||||
6,768,215 | ||||||||
|
|
|||||||
Pharmaceuticals 4.8% |
| |||||||
Bristol-Myers Squibb Co. |
25,208 | 1,463,072 | ||||||
Eli Lilly & Co. |
7,942 | 4,265,887 | ||||||
Merck & Co., Inc. |
62,241 | 6,407,711 | ||||||
|
|
|||||||
12,136,670 | ||||||||
|
|
|||||||
Professional Services 6.1% |
| |||||||
Automatic Data Processing, Inc. |
11,304 | 2,719,516 | ||||||
Booz Allen Hamilton Holding Corp. |
10,384 | 1,134,660 | ||||||
Experian PLC, ADR |
61,274 | 1,999,983 | ||||||
Genpact Ltd. |
110,466 | 3,998,869 | ||||||
Paychex, Inc. |
23,797 | 2,744,508 | ||||||
RELX PLC, ADR |
45,334 | 1,527,756 | ||||||
Verisk Analytics, Inc. |
5,262 | 1,243,095 | ||||||
|
|
|||||||
15,368,387 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 4.6% |
| |||||||
Analog Devices, Inc. |
10,306 | 1,804,478 | ||||||
Broadcom, Inc. |
9,259 | 7,690,340 | ||||||
KLA Corp. |
4,344 | 1,992,419 | ||||||
|
|
|||||||
11,487,237 | ||||||||
|
|
|||||||
Software 18.1% |
| |||||||
Adobe, Inc.(1) |
10,759 | 5,486,014 | ||||||
Fortinet, Inc.(1) |
34,953 | 2,051,042 | ||||||
Gen Digital, Inc. |
204,346 | 3,612,837 | ||||||
Intuit, Inc. |
7,547 | 3,856,064 | ||||||
Microsoft Corp. |
66,222 | 20,909,597 | ||||||
Nice Ltd., ADR(1) |
5,731 | 974,270 | ||||||
Oracle Corp. |
42,262 | 4,476,391 | ||||||
ServiceNow, Inc.(1) |
7,535 | 4,211,764 | ||||||
|
|
|||||||
45,577,979 | ||||||||
|
|
|||||||
Specialized REITs 0.5% |
| |||||||
Public Storage |
4,300 | 1,133,136 | ||||||
|
|
|||||||
1,133,136 | ||||||||
|
|
|||||||
Specialty Retail 3.8% |
| |||||||
AutoZone, Inc.(1) |
2,391 | 6,073,116 | ||||||
OReilly Automotive, Inc.(1) |
1,777 | 1,615,044 | ||||||
Ulta Beauty, Inc.(1) |
4,493 | 1,794,729 | ||||||
|
|
|||||||
9,482,889 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 4.0% |
| |||||||
Apple, Inc. |
59,286 | 10,150,356 | ||||||
|
|
|||||||
10,150,356 | ||||||||
|
|
|||||||
Tobacco 1.8% |
| |||||||
Philip Morris International, Inc. |
48,329 | 4,474,299 | ||||||
|
|
|||||||
4,474,299 | ||||||||
|
|
|||||||
Total Common Stocks |
|
251,117,560 | ||||||
|
|
See accompanying Notes to Schedule of Investments.
SCHEDULE OF INVESTMENTS
GUARDIAN STRATEGIC LARGE CAP CORE VIP FUND
September 30, 2023 (unaudited) |
Principal Amount |
Value | ||||||
Repurchase Agreements 0.2% |
| |||||||
Fixed Income Clearing Corp., 1.60%, dated 9/29/2023, proceeds at maturity value of $444,939, due 10/2/2023(2) |
$ | 444,879 | $ | 444,879 | ||||
|
|
|||||||
Total Repurchase Agreements |
|
444,879 | ||||||
|
|
|||||||
Total Investments 100.0% |
|
251,562,439 | ||||||
|
|
|||||||
Liabilities in excess of other assets (0.0)% |
|
(97,638 | ) | |||||
|
|
|||||||
Total Net Assets 100.0% |
|
$ | 251,464,801 | |||||
|
|
(1) | Non-income-producing security. |
(2) | The table below presents collateral for repurchase agreements. |
Security |
Coupon | Maturity Date |
Principal Amount |
Value | ||||||||||||
U.S. Treasury Note |
0.75 | % | 4/30/2026 | $ | 502,400 | $ | 453,795 |
Legend:
ADR American Depositary Receipt
REITs Real Estate Investment Trusts
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 September 30, 2023 in valuing the Funds 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 |
$ | 251,117,560 | $ | | $ | | $ | 251,117,560 | ||||||||
Repurchase Agreements |
| 444,879 | | 444,879 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 251,117,560 | $ | 444,879 | $ | | $ | 251,562,439 | ||||||||
|
|
|
|
|
|
|
|
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 Trusts Board of Trustees and are noted, if any, in the Funds Schedule of Investments. As of September 30, 2023, Guardian Core Plus Fixed Income VIP Fund, Guardian International Equity VIP Fund and Guardian Mid Cap Traditional Growth VIP Fund each held one illiquid security, and Guardian Mid Cap Relative Value VIP Fund held two illiquid securities.
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 arms 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 entitys 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 Funds 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 instruments 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 instruments 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 September 30, 2023, 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 instruments 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 September 30, 2023 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 September 30, 2023, the Funds had no securities 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 September 30, 2023, Guardian Balanced Allocation VIP Fund, Guardian Core Fixed Income VIP Fund, Guardian Core Plus Fixed Income VIP Fund, Guardian Multi-Sector Bond VIP Fund, Guardian Short Duration 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 September 30, 2023, 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 September 30, 2023, Guardian Multi-Sector Bond VIP Fund, Guardian Core Fixed Income VIP Fund, Guardian Short Duration Bond VIP Fund, Guardian Total Return Bond VIP Fund, and Guardian U.S. Government Securities 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 Commissions website at https://www.sec.gov.