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Thrivent Variable Portfolios

Designed for various objectives within an investor’s portfolio, our active- and passively-managed variable portfolios offer unique choices that may align with an investor’s goals.

About us


Investment capabilities


We offer more than 30 variable portfolios designed to meet a variety of investor needs by spanning asset classes, geographies, and investing styles:

  • Asset Allocation Portfolios: All-in-one portfolios of diversified stocks and bonds tailored to specific risk tolerances for long-term goals
  • Income Plus Portfolios: A mix of fixed income and equity securities that could generate higher yielding returns than fixed income only over the long-term, while also generating supplemental income
  • Equity Portfolios: Domestic and/or international stock investments for those who are focused on asset growth and portfolio customization
  • Fixed Income Portfolios: A reduced risk option featuring portfolios that may be less volatile than equity portfolios yet just as useful for portfolio customization




Our variable portfolios are expertly managed by our team of more than 125 investment professionals. It’s not just the size of our team, but the depth of experience that we believe matters.

  • More than 80% possess at least 10 years of experience
  • More than 50% have more than 20 years of investment experience
  • More than 85% hold the Chartered Financial Analyst designation, an advanced degree, or both




The variable portfolios in Thrivent Series Fund, Inc. are brought to you by Thrivent, a membership-owned fraternal organization as well as a holistic financial services organization, providing financial advice, investments, insurance, banking and generosity programs to help people make the most of all they’ve been given.

  • Thrivent is a Fortune 500 company with more than $161 billion in assets under management/advisement (as of 12/31/2022)1
  • Thrivent has been named one of the “World’s Most Ethical Companies” by Ethisphere Institute 12 years strong (2012 - 2023)2


1 As of 12/31/2022. Includes the Thrivent General Account (which manages surplus and the assets backing our life insurance, fixed annuity and health products), variable subaccount portfolios (primarily connected to variable annuities and variable universal life insurance), funds (including open-end, exchange traded, and interval funds) and other assets related to our affiliates and other subsidiaries.

2 Thrivent was named as one of the “World’s Most Ethical Companies” by Ethisphere. “World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC. For details, visit

Investment goals & philosophy

The investment adviser for the portfolios, Thrivent, strives to manage the portfolios with the following goals:


Achieve long-term investment success by focusing on in-depth, proprietary research in asset allocation, portfolio management and security selection.

Combine fundamental, technical & quantitative research perspectives with active investment management to achieve investment success.

Maintain consistency in investment processes, while accommodating change that is necessary in dynamic capital markets.

Generate strong long-term performance without wide variability in short-term returns, while providing style consistency in managing portfolios in various asset classes.  

Products designed for accumulation, distribution, & diversification

  • 4 asset allocation portfolios
  • 3 income plus portfolios
  • 5 equity index portfolios
  • 14 equity portfolios
  • 5 fixed income portfolios
  • 1 money market portfolio

Portfolio overviews

Learn more about our strategies, processes, performance and other important information in the sales profiles and fact sheets.  Thrivent variable portfolios are only available to the public through a variable life or variable annuity contract.  Contact the applicable insurance company for more information and a contract prospectus which will include information on the additional charges and fees that apply to the specific contract.


Asset Allocation Portfolios


Sales Profile

Fact Sheet


Income Plus Portfolios


Sales Profile

Fact Sheet


Equity Portfolios


Sales Profile

Fact Sheet


Fixed Income Portfolios


Sales Profile

Fact Sheet

This link will take you to where you can select a specific portfolio’s prospectus, annual report, proxy voting, schedule of investments, statement of additional information, and semi annual report.

This link will take you to where you can select a specific portfolio’s Top 10 holdings. The holdings are the same for all contracts that include this portfolio. The contract reference that will show on does not change the Top 10 for the portfolio.

Pending shareholder approval, Thrivent Low Volatility Equity Portfolio will merge into Thrivent Global Stock Portfolio and Thrivent Multidimensional Income Portfolio will merge into Thrivent Opportunity Income Plus Portfolio on July 26, 2024. It will be closed to new shareholder accounts at the close of business April 30, 2024. See prospectus supplement for more information. 

Contact us with questions.


For Financial Professionals:


8 a.m. – 5 p.m. Central Time

For Shareholders:


7 a.m. – 6 p.m. Central Time