NATIONWIDE VLI

SEPARATE

ACCOUNT-4

Annual Report

To

Policyholders

December 31, 2025

 

 

NATIONWIDE LIFE INSURANCE COMPANY

HOME OFFICE: COLUMBUS, OHIO

		KPMG LLP Suite 500 191 West Nationwide Blvd. Columbus, OH 43215-2568

Report of Independent Registered Public Accounting Firm

To the Board of Directors of Nationwide Life Insurance Company and Contract Owners of Nationwide VLI Separate Account 4:

Opinion on the Financial Statements

We have audited the accompanying statements of assets, liabilities and contract owners’ equity of the subaccounts listed in the Appendix that comprise the Nationwide VLI Separate Account 4 (the Subaccounts), as of December 31, 2025, the related statements of operations for the year or period listed in the Appendix, the statements of changes in contract owners’ equity for each of the years or periods listed in the Appendix, and the related notes (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Subaccounts as of December 31, 2025, the results of their operations for the year or period listed in the Appendix, and the changes in their contract owners’ equity for each of the years or periods listed in the Appendix, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Subaccounts’ management. Our responsibility is to express an opinion on these financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Subaccounts in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Such procedures also included confirmation of securities owned as of December 31, 2025, by correspondence with the transfer agent of the underlying mutual funds or by other appropriate auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have not been able to determine the specific year that we began serving as the auditor of one or more Nationwide Life Insurance Company separate account investment companies, however we are aware that we have served as the auditor of one or more Nationwide Life Insurance Company separate account investment companies since at least 1981.

Columbus, Ohio

April 1, 2026

 

		KPMG LLP, a Delaware limited liability partnership, and its subsidiaries are part of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

Appendix

Statements of assets, liabilities and contract owners’ equity as of December 31, 2025, the related statements of operations for the year then ended, and the statements of changes in contract owners’ equity for each of the years in the two-year period then ended.

AB FUNDS

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Portfolio: Class B (ABTGB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Dynamic Asset Allocation Portfolio: Class A (ALVDAA)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class A (ALVGIA)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class A (ALVIVA)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class A (ALVSVA)

ALLSPRING GLOBAL INVESTMENTS

Allspring Variable Trust - VT Discovery SMID Cap Growth Fund: Class 2 (SVDF)

Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)

Allspring Variable Trust - VT Small Cap Growth Fund: Class 2 (WFVSCG)

AMERICAN FUNDS GROUP (THE)

American Funds Insurance Series(R) - Asset Allocation Fund: Class 2 (AMVAA2)

American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 2 (AMVBC2)

American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)

American Funds Insurance Series(R) - The Bond Fund of America: Class 2 (AMVBD2)

American Funds Insurance Series(R) - Capital World Bond Fund: Class 2 (AMVGB2)

American Funds Insurance Series(R) - Growth-Income Fund: Class 2 (AMVGI2)

American Funds Insurance Series(R) - Growth Fund: Class 2 (AMVGR2)

American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 2 (AMVGS2)

American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)

American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 2 (AMVGV2)

American Funds Insurance Series(R) - International Fund: Class 2 (AMVI2)

American Funds Insurance Series(R) - New World Fund: Class 2 (AMVNW2)

BLACKROCK FUNDS

BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class I (BRVHYI)

BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class II (MLVGA2)

BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class II (MLVLC2)

BNY MELLON INVESTMENT MANAGEMENT

BNY Mellon Variable Investment Fund - Appreciation Portfolio: Initial Shares (DCAP)

BNY Mellon Variable Investment Fund - Small Cap Portfolio: Initial Shares (DSC)¹

BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)

BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)

BNY Mellon Investment Portfolios - MidCap Stock Portfolio: Initial Shares (DVMCS)

BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)

CALVERT GROUP

Calvert Variable Trust, Inc. - CVT S&P 500 Index Portfolio: Class I (CVSPIP)

Calvert Variable Series, Inc. - Calvert VP SRI Mid Cap Portfolio (CVSRMC)

CHARLES SCHWAB FUNDS

Schwab Annuity Portfolios - Schwab(R) S&P 500 Index Portfolio (SASP5I)

DAVIS FUNDS

Davis Variable Account Fund, Inc. - Davis Equity Portfolio (DAVVL)

DIMENSIONAL FUND ADVISORS INC.

DFA Investment Dimensions Group Inc. - Dimensional VA Global Moderate Allocation Portfolio: Institutional Class

(DFVGMI)1

DFA Investment Dimensions Group Inc. - Dimensional VIT Inflation-Protected Securities Portfolio: Institutional Class (DFVIPS)¹

DFA Investment Dimensions Group Inc. - Dimensional VA International Small Portfolio (DFVIS)¹

DFA Investment Dimensions Group Inc. - Dimensional VA International Value Portfolio (DFVIV)¹

DFA Investment Dimensions Group Inc. - Dimensional VA U.S. Large Value Portfolio (DFVULV)¹

DFA Investment Dimensions Group Inc. - Dimensional VA U.S. Targeted Value Portfolio (DFVUTV)¹

DWS INVESTMENT MANAGEMENT AMERICAS, INC.

Deutsche DWS Variable Series II - DWS Global Income Builder VIP: Class A (DSGIBA)

Deutsche DWS Variable Series II - DWS Small Mid Cap Value VIP: Class B (SVSSVB)

EATON VANCE FUNDS

Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)

FEDERATED HERMES, INC.

Federated Hermes Insurance Series - Federated Hermes Quality Bond Fund II: Primary Shares (FQB)

Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Primary Shares (FVU2)

Federated Hermes Insurance Series - Federated Hermes Fund for U.S. Government Securities II (FVUS2)

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class (FCS)

Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class (FEIS)

Fidelity Variable Insurance Products - Emerging Markets Portfolio - Service Class (FEMS)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2010 Portfolio: Service Class (FF10S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2015 Portfolio: Service Class (FF15S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2020 Portfolio: Service Class (FF20S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2025 Portfolio: Service Class (FF25S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2030 Portfolio: Service Class (FF30S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2035 Portfolio: Service Class (FF35S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2040 Portfolio: Service Class (FF40S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2045 Portfolio: Service Class (FF45S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2050 Portfolio: Service Class (FF50S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2055 Portfolio: Service Class (FF55S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2060 Portfolio: Service Class (FF60S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2065 Portfolio: Service Class (FF65S)

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Income Fund Portfolio: Service Class (FFINS)

Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class (FGOS)

Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class (FGS)

Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class (FHIS)

Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class (FIGBS)

Fidelity Variable Insurance Products Fund - VIP Index 500 Portfolio: Initial Class (FIP)

Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class (FMCS)

Fidelity Variable Insurance Products Fund - VIP Government Money Market Portfolio: Initial Class (FMMP)

Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)

Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class (FOS)

Fidelity Variable Insurance Products Fund - VIP Real Estate Portfolio: Service Class (FRESS)

Fidelity Variable Insurance Products Fund - VIP Bond Index Portfolio: Service Class (FVBIS)

Fidelity Variable Insurance Products Fund - VIP Extended Market Index Portfolio: Service Class (FVEMIS)

Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)

Fidelity Variable Insurance Products Fund - VIP International Index Portfolio: Service Class (FVIIS)

Fidelity Variable Insurance Products Fund - VIP Total Market Index Portfolio: Service Class (FVMIS)

Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class (FVSS)

Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)

FRANKLIN TEMPLETON DISTRIBUTORS, INC.

Franklin Templeton Variable Insurance Products Trust - Templeton Developing Markets VIP Fund: Class 2 (FTVDM2)

Franklin Templeton Variable Insurance Products Trust - Franklin Allocation VIP Fund: Class 2 (FTVFA2)

Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 1 (FTVGB1)

Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)

Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)

Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Global Discovery VIP Fund: Class 2 (FTVMD2)

Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 1 (FTVRDI)

Franklin Templeton Variable Insurance Products Trust - Franklin Small Cap Value VIP Fund: Class 2 (FTVSV2)

Franklin Templeton Variable Insurance Products Trust - Franklin Small Cap Value VIP Fund: Class 1 (FTVSVI)

Franklin Templeton Variable Insurance Products Trust - Templeton Foreign VIP Fund: Class 1 (TIF)

Franklin Templeton Variable Insurance Products Trust - Templeton Foreign VIP Fund: Class 2 (TIF2)

GOLDMAN SACHS ASSET MANAGEMENT GROUP

Goldman Sachs Variable Insurance Trust - Goldman Sachs Small Cap Equity Insights Fund: Institutional Shares (GVCSE)

Goldman Sachs Variable Insurance Trust - Goldman Sachs Trend Driven Allocation Fund: Service Shares (GVGMNS)

Goldman Sachs Variable Insurance Trust - Goldman Sachs Mid Cap Growth Fund: Service Shares (GVGOPS)

Goldman Sachs Variable Insurance Trust - Goldman Sachs Mid Cap Value Fund: Institutional Shares (GVMCE)

GUGGENHEIM INVESTMENTS

Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)

INVESCO INVESTMENTS

Invesco - Invesco V.I. American Franchise Fund: Series I Shares (ACEG)

Invesco - Invesco V.I. Growth and Income Fund: Series I Shares (ACGI)

Invesco - Invesco V.I. High Yield Fund: Series I Shares (AVHY1)

Invesco - Invesco V.I. EQV International Equity Fund: Series I Shares (AVIE)

Invesco - Invesco V.I. Main Street Mid Cap Fund: Series I Shares (AVMCCI)

Invesco - Invesco V.I. Small Cap Equity Fund: Series I Shares (AVSCE)

Invesco Variable Insurance Funds - Invesco V.I. Balanced-Risk Allocation Fund: Series I Shares (IVBRA1)

Invesco - Invesco V.I. American Value Fund: Series I Shares (MSVMV)

Invesco - Invesco V.I. Discovery Mid Cap Growth Fund: Series I (OVAG)

Invesco - Invesco V.I. Main Street Fund: Series I (OVGI)

Invesco - Invesco V.I. Discovery Large Cap Fund: Series I (OVGR)¹

Invesco - Invesco V.I. Global Fund: Series I (OVGS)

Invesco V.I. International Growth Fund: Series I (OVIG)¹

Invesco - Invesco V.I. Global Strategic Income Fund: Series I (OVSB)

Invesco - Invesco V.I. Main Street Small Cap Fund: Series I (OVSC)

JANUS HENDERSON INVESTORS

Janus Aspen Series - Janus Henderson Balanced Portfolio: Service Shares (JABS)

Janus Aspen Series - Janus Henderson Forty Portfolio: Service Shares (JACAS)

Janus Aspen Series - Janus Henderson Enterprise Portfolio: Institutional Shares (JAEI)

Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)

Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)

Janus Aspen Series - Janus Henderson Global Technology and Innovation Portfolio: Service Shares (JAGTS)

Janus Aspen Series - Janus Henderson Overseas Portfolio: Service Shares (JAIGS)

Janus Aspen Series - Janus Henderson Enterprise Portfolio: Service Shares (JAMGS)

Janus Aspen Series - Janus Henderson Mid Cap Value Portfolio: Service Shares (JAMVS)

LAZARD FUNDS

Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)

LEGG MASON

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Small Cap Growth Portfolio: Class I (SBVSG)

LINCOLN FUNDS

Lincoln Variable Insurance Products Trust - Baron Growth Opportunities Fund: Service Class (BNCAI)

Lincoln Variable Insurance Products Trust - LVIP JPMorgan Mid Cap Value Fund: Standard Class (LJPMVS)

Lincoln Variable Insurance Products Trust - LVIP JPMorgan Small Cap Core Fund: Standard Class (LJPSCS)

LORD ABBETT FUNDS

Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)

Lord Abbett Series Fund, Inc. - Short Duration Income Portfolio: Class VC (LOVSDC)

Lord Abbett Series Fund, Inc. - Total Return Portfolio: Class VC (LOVTRC)

MASSACHUSETTS FINANCIAL SERVICES CO.

MFS(R) Variable Insurance Trust III - MFS Global Real Estate Portfolio: Initial Class (M3GREI)

MFS(R) Variable Insurance Trust III - MFS Global Real Estate Portfolio: Service Class (M3GRES)

MFS(R) Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)

MFS(R) Variable Insurance Trust - MFS Mid Cap Growth Series: Service Class (MMCGSC)

MFS(R) Variable Insurance Trust - MFS New Discovery Series: Initial Class (MNDIC)

MFS(R) Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)

MFS(R) Variable Insurance Trust II - MFS Emerging Markets Equity Portfolio: Initial Class (MV2EEI)

MFS(R) Variable Insurance Trust II - MFS Emerging Markets Equity Portfolio: Service Class (MV2EES)

MFS(R) Variable Insurance Trust II - MFS Massachusetts Investors Growth Stock Portfolio: Initial Class (MV2IGI)

MFS(R) Variable Insurance Trust II - MFS Research International Portfolio: Service Class (MV2RIS)

MFS(R) Variable Insurance Trust III - MFS Limited Maturity Portfolio: Initial Class (MV3LMI)

MFS(R) Variable Insurance Trust III - MFS Limited Maturity Portfolio: Service Class (MV3LMS)

MFS(R) Variable Insurance Trust III - MFS Mid Cap Value Portfolio: Initial Class (MV3MVI)

MFS(R) Variable Insurance Trust III - MFS Mid Cap Value Portfolio: Service Class (MV3MVS)

MFS(R) Variable Insurance Trust II - MFS Blended Research(R) Core Equity Portfolio: Service Class (MVBRES)

MFS(R) Variable Insurance Trust - MFS Value Series: Initial Class (MVFIC)

MFS(R) Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)

MFS(R) Variable Insurance Trust II - MFS International Growth Portfolio: Initial Class (MVIGIC)

MFS(R) Variable Insurance Trust II - MFS International Intrinsic Value Portfolio: Service Class (MVIVSC)

MFS(R) Variable Insurance Trust - MFS Total Return Bond Series: Service Class (MVRBSS)

MORGAN STANLEY

Morgan Stanley Variable Insurance Fund, Inc. - Emerging Markets Debt Portfolio: Class I (MSEM)

Morgan Stanley Variable Insurance Fund, Inc. - Growth Portfolio: Class I (MSVEG)

Morgan Stanley Variable Insurance Fund, Inc. - Discovery Portfolio: Class I (MSVMG)

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class II (DTRTFB)

Nationwide Variable Insurance Trust - NVIT BlackRock Equity Dividend Fund: Class I (EIF)

Nationwide Variable Insurance Trust - NVIT Government Bond Fund: Class I (GBF)

Nationwide Variable Insurance Trust - NVIT Fidelity Institutional AM(R) Emerging Markets Fund: Class I (GEM)

Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)

Nationwide Variable Insurance Trust - NVIT American Funds Asset Allocation Fund: Class II (GVAAA2)

Nationwide Variable Insurance Trust - NVIT American Funds Bond Fund: Class II (GVABD2)

Nationwide Variable Insurance Trust - NVIT American Funds Global Growth Fund: Class II (GVAGG2)

Nationwide Variable Insurance Trust - NVIT American Funds Growth-Income Fund: Class II (GVAGI2)

Nationwide Variable Insurance Trust - NVIT American Funds Growth Fund: Class II (GVAGR2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderately Aggressive Fund: Class II (GVDMA)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderately Conservative Fund: Class II (GVDMC)

Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class I (GVEX1)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Aggressive Fund: Class II (GVIDA)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Conservative Fund: Class II (GVIDC)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderate Fund: Class II (GVIDM)

Nationwide Variable Insurance Trust - NVIT International Index Fund: Class II (GVIX2)

Nationwide Variable Insurance Trust - NVIT Loomis Short Term High Yield Fund: Class I (HIBF)1

Nationwide Variable Insurance Trust - NVIT Investor Destinations Managed Growth Fund: Class I (IDPG)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Managed Growth & Income Fund: Class I (IDPGI)

Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class I (MCIF)

Nationwide Variable Insurance Trust - NVIT Strategic Income Fund: Class I (MSBF)¹

Nationwide Variable Insurance Trust - NVIT Blueprint(R) Managed Growth Fund: Class I (NCPG)¹

Nationwide Variable Insurance Trust - NVIT Blueprint(R) Managed Growth & Income Fund: Class I (NCPGI)¹

Nationwide Variable Insurance Trust - NVIT J.P. Morgan U.S. Equity Fund: Class Y (NJMDEY)

Nationwide Variable Insurance Trust - NVIT J.P. Morgan U.S. Equity Fund: Class II (NJNDE2)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class I (NVAMV1)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)

Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class I (NVBX)

Nationwide Variable Insurance Trust - NVIT Loomis Core Bond Fund: Class I (NVCBD1)¹

Nationwide Variable Insurance Trust - NVIT Blueprint(R) Capital Appreciation Fund: Class I (NVCCA1)¹

Nationwide Variable Insurance Trust - NVIT Blueprint(R) Conservative Fund: Class I (NVCCN1)¹

Nationwide Variable Insurance Trust - NVIT Blueprint(R) Moderately Aggressive Fund: Class I (NVCMA1)¹

Nationwide Variable Insurance Trust - NVIT Blueprint(R) Moderately Conservative Fund: Class I (NVCMC1)¹

Nationwide Variable Insurance Trust - NVIT Blueprint(R) Moderate Fund: Class I (NVCMD1)¹

Nationwide Variable Insurance Trust - NVIT Blueprint(R) Aggressive Fund: Class I (NVCRA1)¹

Nationwide Variable Insurance Trust - NVIT Blueprint(R) Balanced Fund: Class I (NVCRB1)¹

Nationwide Variable Insurance Trust - NVIT Investor Destinations Balanced Fund: Class II (NVDBL2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Capital Appreciation Fund: Class II (NVDCA2)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Capital Appreciation Fund: Class P (NVDCAP)

Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class II (NVFIII)

Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class II (NVGEII)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderate Fund: Class P (NVIDMP)

Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class II (NVIE6)

Nationwide Variable Insurance Trust - NVIT International Index Fund: Class I (NVIX)

Nationwide Variable Insurance Trust - NVIT Putnam International Value Fund: Class X (NVMIVX)¹

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)

Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class I (NVMMG1)

Nationwide Variable Insurance Trust - NVIT Victory Mid Cap Value Fund: Class I (NVMMV1)

Nationwide Variable Insurance Trust - NVIT Victory Mid Cap Value Fund: Class II (NVMMV2)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Core Fund: Class I (NVNMO1)

Nationwide Variable Insurance Trust - NVIT GQG US Quality Equity Fund: Class I (NVNSR1)¹

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Core Fund: Class I (NVOLG1)

Nationwide Variable Insurance Trust - NVIT Real Estate Fund: Class I (NVRE1)

Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class II (NVSIX2)

Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class Y (NVSIXD)

Nationwide Variable Insurance Trust - NVIT Loomis Short Term Bond Fund: Class I (NVSTB1)

Nationwide Variable Insurance Trust - NVIT Loomis Short Term Bond Fund: Class II (NVSTB2)

Nationwide Variable Insurance Trust - NVIT Putnam International Value Fund: Class I (NVTIV3)¹

Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class I (SAM)

Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class V (SAM5)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Company Fund: Class I (SCF)

Nationwide Variable Insurance Trust - NVIT Invesco Small Cap Growth Fund: Class I (SCGF)

Nationwide Variable Insurance Trust - NVIT Multi-Manager Small Cap Value Fund: Class I (SCVF)

Nationwide Variable Insurance Trust - NVIT J.P. Morgan Equity and Options Total Return Fund: Class I (TRF)¹

NEUBERGER & BERMAN MANAGEMENT, INC.

Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)

Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class S Shares (AMMCGS)

Neuberger Berman Advisers Management Trust - Mid Cap Intrinsic Value Portfolio: Class I Shares (AMRI)

Neuberger Berman Advisers Management Trust - Quality Equity Portfolio: Class I Shares (AMSRS)¹

Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)

NOMURA INVESTMENT MANAGEMENT

Delaware VIP Trust - Nomura VIP Emerging Markets Series: Service Class (DWVEMS)¹

Delaware VIP Trust - Nomura VIP Small Cap Value Series: Service Class (DWVSVS)¹

Ivy Variable Insurance Portfolios - Nomura VIP Asset Strategy Series: Service Class (WRASP)¹

Ivy Variable Insurance Portfolios - Nomura VIP Growth Series: Service Class (WRGP)¹

Ivy Variable Insurance Portfolios - Nomura VIP High Income Series: Service Class (WRHIP)¹

Ivy Variable Insurance Portfolios - Nomura VIP Mid Cap Growth Series: Service Class (WRMCG)¹

Ivy Variable Insurance Portfolios - Nomura VIP Science and Technology Series: Service Class (WRSTP)¹

NORTHERN LIGHTS

Northern Lights Variable Trust - TOPS Managed Risk Balanced ETF Portfolio: Class 3 (NOTB3)

Northern Lights Variable Trust - TOPS Managed Risk Growth ETF Portfolio: Class 3 (NOTG3)

Northern Lights Variable Trust - TOPS Managed Risk Moderate Growth ETF Portfolio: Class 3 (NOTMG3)

NYLI FUNDS

New York Life Investments VP Funds Trust - NYLI VP Floating Rate Portfolio: Initial Class (MNVFRI)

New York Life Investments VP Funds Trust - NYLI VP Floating Rate Portfolio: Service Class (MNVFRS)

PIMCO FUNDS

PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)

PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Administrative Class (PMVFBA)

PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Administrative Class (PMVFHA)

PIMCO Variable Insurance Trust - Global Bond Opportunities Portfolio (Unhedged): Administrative Class (PMVGBA)

PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)

PIMCO Variable Insurance Trust - Income Portfolio: Administrative Class (PMVID)

PIMCO Variable Insurance Trust - Income Portfolio: Institutional Class (PMVII)

PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)

PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio: Administrative Class (PMVLGA)

PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)

PIMCO Variable Insurance Trust - CommodityRealReturn(R) Strategy Portfolio: Administrative Class (PMVRSA)

PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)

PIMCO Variable Insurance Trust - Short-Term Portfolio: Administrative Class (PVSTA)

PUTNAM INVESTMENTS

Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)

Putnam Variable Trust - Putnam VT Large Cap Growth Fund: Class IB (PVGOB)

Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)

Putnam Variable Trust - Putnam VT International Equity Fund: Class IB (PVTIGB)

Putnam Variable Trust - Putnam VT Small Cap Value Fund: Class IB (PVTSCB)

ROYCE CAPITAL FUNDS

Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)

T. ROWE PRICE

T. Rowe Price Equity Series, Inc. - T. Rowe Price Blue Chip Growth Portfolio (TRBCGP)

T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)

T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)

T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited-Term Bond Portfolio (TRLT1)

T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)

T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio (TRMCGP)

T. Rowe Price Equity Series, Inc. - T. Rowe Price All-Cap Opportunities Portfolio (TRNAG1)

T. Rowe Price Equity Series, Inc. - T. Rowe Price Moderate Allocation Portfolio (TRPSB1)

VAN ECK ASSOCIATES CORPORATION

VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)

VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)

VANGUARD GROUP OF INVESTMENT COMPANIES

Vanguard Variable Insurance Fund - Balanced Portfolio (VVB)

Vanguard Variable Insurance Fund - Capital Growth Portfolio (VVCG)

Vanguard Variable Insurance Fund - Diversified Value Portfolio (VVDV)

Vanguard Variable Insurance Fund - Equity Income Portfolio (VVEI)

Vanguard Variable Insurance Fund - Equity Index Portfolio (VVEIX)

Vanguard Variable Insurance Fund - Growth Portfolio (VVG)

Vanguard Variable Insurance Fund-Global Bond Index Portfolio (VVGBI)

Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB)

Vanguard Variable Insurance Fund - High Yield Bond Portfolio (VVHYB)

Vanguard Variable Insurance Fund - International Portfolio (VVI)

Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI)

Vanguard Variable Insurance Fund - Real Estate Index Portfolio (VVREI)

Vanguard Variable Insurance Fund - Small Company Growth Portfolio (VVSCG)

Vanguard Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC)

Vanguard Variable Insurance Fund-Total International Stock Market Index Portfolio (VVTISI)

Vanguard Variable Insurance Fund - Total Stock Market Index Portfolio (VVTSM)

VICTORY FUNDS

Victory Variable Insurance Funds II - Victory Pioneer High Yield VCT Portfolio: Class I (PIHYB1)¹

VIRTUS MUTUAL FUNDS

Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class I (VRVDRI)

Statements of assets, liabilities and contract owners’ equity as of December 31, 2025, the related statements of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2025 and the period from April 26, 2024 (inception) to December 31, 2024.

LINCOLN FUNDS

Lincoln Variable Insurance Products Trust - LVIP American Century Capital Appreciation Fund: Standard Class II (LACCA2)

Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2)

Lincoln Variable Insurance Products Trust - LVIP American Century International Fund: Standard Class II (LACI2)

Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Standard Class II (LACIP2)

Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS)

Lincoln Variable Insurance Products Trust - LVIP American Century Mid Cap Value Fund: Standard Class II (LACMV2)

Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2)

Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2025, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2025 and the period from May 2, 2024 (inception) to December 31, 2024.

BNY MELLON INVESTMENT MANAGEMENT

BNY Mellon Variable Investment Fund - Government Money Market Portfolio (BYVGMM)

Statements of assets, liabilities and contract owners’ equity as of December 31, 2025, the related statements of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2025 and the period from June 13, 2024 (inception) to December 31, 2024.

FRANKLIN TEMPLETON DISTRIBUTORS, INC.

Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Global Discovery VIP Fund: Class 1 (FTVMD1)

LEGG MASON

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Dividend Strategy Portfolio: Class I (LPVCII)

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Large Cap Growth Portfolio: Class I (LVCLGI)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2025, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2025 and the period from July 31, 2024 (inception) to December 31, 2024.

FRANKLIN TEMPLETON DISTRIBUTORS, INC.

Franklin Templeton Variable Insurance Products Trust - Franklin Small-Mid Cap Growth VIP Fund: Class 1 (FTVSC1)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2025, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2025 and the period from September 16, 2024 (inception) to December 31, 2024.

JANUS HENDERSON INVESTORS

Janus Aspen Series - Janus Henderson Global Research Portfolio: Service Shares (JAWGS)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2025, the related statement of operations for the year then ended, and the statements of changes in contract owners’ equity for the year ended December 31, 2025 and the period from October 23, 2024 (inception) to December 31, 2024.

FRANKLIN TEMPLETON DISTRIBUTORS, INC.

Franklin Templeton Variable Insurance Products Trust - Franklin U.S. Government Securities VIP Fund: Class 1 (FTVUG1)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2025, and the related statements of operations and changes in contract owners’ equity for the period May 16, 2025 (inception) to December 31, 2025.

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT NASDAQ-100 Index Fund: Class I (NNASD1)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2025, and the related statements of operations and changes in contract owners’ equity for the period May 21, 2025 (inception) to December 31, 2025.

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT J.P. Morgan Large Cap Growth Fund: Class II (NLCG2)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2025, and the related statements of operations and changes in contract owners’ equity for the period June 20, 2025 (inception) to December 31, 2025.

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT J.P. Morgan Digital Evolution Strategy Fund: Class II (NDES2)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2025, and the related statements of operations and changes in contract owners’ equity for the period June 26, 2025 (inception) to December 31, 2025.

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products Fund - Fidelity VIP Freedom Fund 2070 Portfolio: Service Class (FF70S)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2025, and the related statements of operations and changes in contract owners’ equity for the period July 14, 2025 (inception) to December 31, 2025.

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT Fidelity Institutional AM(R) Worldwide Fund: Class I (NFDIW1)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2025, and the related statements of operations and changes in contract owners’ equity for the period September 17, 2025 (inception) to December 31, 2025.

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT NASDAQ-100 Index Fund: Class II (NNASD2)

Statement of assets, liabilities and contract owners’ equity as of December 31, 2025, and the related statements of operations and changes in contract owners’ equity for the period October 15, 2025 (inception) to December 31, 2025.

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT J.P. Morgan Inflation Managed Fund: Class II (NJMIM2)

⁽¹⁾ See Note 1 to the financial statements for the former name of the subaccount.

NATIONWIDE VLI SEPARATE ACCOUNT-4

STATEMENTS OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2025

 

														Investments, at						Accounts												Accounts						Contract Owners’
Subaccount*,**		Shares***						Cost						fair value						Receivable						Total Assets						Payable						Equity
ABTGB			63			$			1,887			$			1,917			$			—			$			1,917			$			—			$			1,917
ALVDAA			3,330						31,262						36,266						—						36,266						—						36,266
ALVGIA			1,549,141						47,100,125						49,169,721						7						49,169,728						—						49,169,728
ALVIVA			311,409						4,747,551						6,514,679						1						6,514,680						—						6,514,680
ALVIVB			75,277						1,251,269						1,567,257						—						1,567,257						—						1,567,257
ALVSVA			1,099,539						20,065,996						18,241,353						—						18,241,353						—						18,241,353
SVDF			745,265						17,943,754						18,847,753						2						18,847,755						—						18,847,755
SVOF			383,599						9,601,309						9,858,483						2						9,858,485						—						9,858,485
WFVSCG			438,317						3,984,648						4,207,843						—						4,207,843						—						4,207,843
AMVAA2			672,171						16,476,672						18,182,228						7						18,182,235						—						18,182,235
AMVBC2			405,278						7,004,841						7,209,888						3						7,209,891						—						7,209,891
AMVBC4			63,344						981,183						1,111,682						—						1,111,682						—						1,111,682
AMVBD2			4,097,661						43,798,841						38,395,084						—						38,395,084						4						38,395,080
AMVGB2			290,406						2,874,707						2,936,009						—						2,936,009						—						2,936,009
AMVGI2			70,719						4,248,626						4,687,268						—						4,687,268						3						4,687,265
AMVGR2			478,085						47,841,235						66,358,131						40						66,358,171						—						66,358,171
AMVGS2			179,295						2,980,959						3,413,775						1						3,413,776						—						3,413,776
AMVGS4			2,781						47,846						52,761						—						52,761						—						52,761
AMVGV2			101,008						1,009,417						985,839						—						985,839						—						985,839
AMVI2			1,130,597						19,839,625						25,121,859						17						25,121,876						—						25,121,876
AMVNW2			2,265,953						68,713,219						72,578,461						12						72,578,473						—						72,578,473
BRVHYI			4,446,472						30,371,195						31,303,163						166,714						31,469,877						—						31,469,877
MLVGA2			600,292						10,018,125						10,493,099						2						10,493,101						—						10,493,101
MLVLC2			69,051						1,637,844						1,685,535						2						1,685,537						—						1,685,537
BYVGMM			3,427,773						3,427,773						3,427,773						3						3,427,776						—						3,427,776
DCAP			68,177						2,212,684						2,295,513						1						2,295,514						—						2,295,514
DSC			22,939						952,035						1,101,079						—						1,101,079						—						1,101,079
DSIF			10,018,180						709,268,276						873,084,344						430						873,084,774						—						873,084,774
DSRG			315,806						12,120,331						18,474,622						2						18,474,624						—						18,474,624
DVMCS			66,932						1,274,699						1,361,387						1						1,361,388						—						1,361,388
DVSCS			5,269,847						97,602,878						94,909,947						—						94,909,947						120						94,909,827
CVSPIP			1,382						283,212						295,490						1						295,491						—						295,491
CVSRMC			4,641						121,566						122,854						—						122,854						—						122,854
SASP5I			1,291,474						91,182,624						130,064,352						—						130,064,352						1,124						130,063,228
DAVVL			1,209,841						7,654,492						7,585,702						7						7,585,709						—						7,585,709

 

See accompanying notes to financial statements.

NATIONWIDE VLI SEPARATE ACCOUNT-4

STATEMENTS OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2025

 

														Investments, at						Accounts												Accounts						Contract Owners’
Subaccount*,**		Shares***						Cost						fair value						Receivable						Total Assets						Payable						Equity
DFVGMI			76,212						1,234,143						1,380,959						—						1,380,959						—						1,380,959
DFVIPS			713,613						6,837,153						6,615,190						—						6,615,190						51						6,615,139
DFVIS			7,566						96,289						111,832						—						111,832						1						111,831
DFVIV			215,322						3,851,512						3,989,925						5						3,989,930						—						3,989,930
DFVULV			100,045						3,607,904						3,492,568						—						3,492,568						126						3,492,442
DFVUTV			426,528						9,648,038						9,503,050						—						9,503,050						26						9,503,024
DSGIBA			37,654						807,561						841,558						1						841,559						—						841,559
SVSSVB			8,684						99,047						122,618						—						122,618						1						122,617
ETVFR			1,861,676						16,248,115						15,582,228						—						15,582,228						59						15,582,169
FQB			1,877,338						20,414,120						19,862,231						1						19,862,232						—						19,862,232
FVU2			92,735						942,582						964,447						—						964,447						—						964,447
FVUS2			17,081						158,556						159,025						—						159,025						1						159,024
FCS			1,867,893						104,651,667						110,822,092						141						110,822,233						—						110,822,233
FEIS			2,900,574						71,184,457						84,580,751						12						84,580,763						—						84,580,763
FEMS			981,425						11,576,832						15,565,393						—						15,565,393						35						15,565,358
FF10S			183,374						2,226,747						2,224,322						—						2,224,322						1						2,224,321
FF15S			345,413						3,982,726						4,127,686						—						4,127,686						9						4,127,677
FF20S			1,380,858						17,275,608						18,213,522						—						18,213,522						54						18,213,468
FF25S			768,677						12,421,491						13,205,869						—						13,205,869						69						13,205,800
FF30S			3,119,100						48,464,451						54,927,351						—						54,927,351						44						54,927,307
FF35S			583,719						16,128,767						17,534,907						4						17,534,911						—						17,534,911
FF40S			1,474,893						36,189,764						43,774,831						—						43,774,831						11						43,774,820
FF45S			378,524						10,387,042						11,567,682						5						11,567,687						—						11,567,687
FF50S			209,197						5,342,312						5,767,568						—						5,767,568						—						5,767,568
FF55S			58,536						860,924						910,238						—						910,238						3						910,235
FF60S			116,869						1,649,455						1,776,407						—						1,776,407						—						1,776,407
FF65S			193,716						2,673,553						2,934,799						2						2,934,801						—						2,934,801
FF70S			1,842						20,733						20,646						—						20,646						—						20,646
FFINS			83,586						964,487						975,444						—						975,444						14						975,430
FGOS			9,212						413,226						912,883						—						912,883						—						912,883
FGS			2,789,262						266,772,158						269,331,137						75						269,331,212						—						269,331,212
FHIS			2,166,972						10,559,835						10,488,142						3						10,488,145						—						10,488,145
FIGBS			15,039,565						171,889,227						168,142,332						25						168,142,357						—						168,142,357

 

See accompanying notes to financial statements.

NATIONWIDE VLI SEPARATE ACCOUNT-4

STATEMENTS OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2025

 

														Investments, at						Accounts												Accounts						Contract Owners’
Subaccount*,**		Shares***						Cost						fair value						Receivable						Total Assets						Payable						Equity
FIP			29,956						15,877,581						19,774,598						—						19,774,598						—						19,774,598
FMCS			1,081,370						38,156,915						39,783,599						19						39,783,618						—						39,783,618
FMMP			10,981,834						10,981,834						10,981,834						—						10,981,834						61						10,981,773
FNRS2			253,710						6,454,099						6,875,531						23						6,875,554						—						6,875,554
FOS			796,977						18,476,653						21,773,421						2						21,773,423						—						21,773,423
FRESS			203,674						3,486,065						3,609,096						3						3,609,099						—						3,609,099
FVBIS			46,311						452,530						455,703						—						455,703						—						455,703
FVEMIS			29,772						440,590						473,076						1						473,077						—						473,077
FVFRHI			7,743						75,689						74,721						—						74,721						—						74,721
FVIIS			32,316						429,321						454,036						—						454,036						—						454,036
FVMIS			31,153						502,056						759,518						—						759,518						—						759,518
FVSS			645,620						10,126,371						10,239,536						8						10,239,544						—						10,239,544
FVSS2			14,128						242,446						228,448						—						228,448						—						228,448
FTVDM2			32						385						389						—						389						—						389
FTVFA2			104,674						563,871						579,893						—						579,893						—						579,893
FTVGB1			563,659						7,360,639						7,891,233						1						7,891,234						—						7,891,234
FTVGI2			291,670						4,254,468						3,841,293						3						3,841,296						—						3,841,296
FTVIS2			367,035						5,424,372						5,564,256						1						5,564,257						—						5,564,257
FTVMD1			6,439						134,168						129,302						—						129,302						—						129,302
FTVMD2			11,935						223,082						227,484						2						227,486						—						227,486
FTVSC1			6,920						119,597						129,052						—						129,052						—						129,052
FTVSV2			527,582						6,929,278						7,317,558						1						7,317,559						—						7,317,559
FTVSVI			765,296						10,837,538						11,433,516						—						11,433,516						—						11,433,516
FTVUG1			73						767						788						—						788						—						788
TIF			54,025						697,776						898,441						—						898,441						—						898,441
TIF2			593,324						8,230,321						9,623,718						3						9,623,721						—						9,623,721
GVCSE			149,242						2,059,791						2,131,176						2						2,131,178						—						2,131,178
GVGMNS			2,833						33,710						32,463						—						32,463						—						32,463
GVGOPS			53,643						575,257						525,165						1						525,166						—						525,166
GVMCE			393,836						6,553,764						6,415,591						5						6,415,596						—						6,415,596
RVARS			7,039						183,689						165,279						—						165,279						—						165,279
ACEG			35,100						2,361,844						2,843,112						—						2,843,112						—						2,843,112
ACGI			424,040						8,562,549						9,044,779						7						9,044,786						—						9,044,786

 

See accompanying notes to financial statements.

NATIONWIDE VLI SEPARATE ACCOUNT-4

STATEMENTS OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2025

 

														Investments, at						Accounts												Accounts						Contract Owners’
Subaccount*,**		Shares***						Cost						fair value						Receivable						Total Assets						Payable						Equity
AVHY1			24,594						117,898						116,574						1						116,575						—						116,575
AVIE			714,124						23,029,859						25,787,018						16						25,787,034						—						25,787,034
AVMCCI			12,147						116,791						133,743						—						133,743						4						133,739
AVSCE			794						14,894						15,924						1						15,925						—						15,925
MSVMV			33,353						642,202						605,357						2						605,359						—						605,359
OVAG			639,459						47,625,860						48,093,735						5						48,093,740						—						48,093,740
OVGI			476,956						8,762,118						10,564,575						8						10,564,583						—						10,564,583
OVGR			295,419						15,294,577						18,685,257						1,977						18,687,234						—						18,687,234
OVGS			1,241,363						45,114,795						47,109,721						—						47,109,721						72						47,109,649
OVIG			11,441,786						23,023,854						22,197,066						14						22,197,080						—						22,197,080
OVSB			3,119,951						14,687,656						14,258,176						—						14,258,176						1						14,258,175
OVSC			2,489,325						72,126,953						71,045,322						—						71,045,322						4						71,045,318
JABS			513,936						25,575,507						30,568,892						8						30,568,900						—						30,568,900
JACAS			242,906						11,292,481						12,599,528						4						12,599,532						—						12,599,532
JAEI			22,402						1,849,188						1,872,379						—						1,872,379						—						1,872,379
JAFBS			645,630						7,182,347						7,192,315						2						7,192,317						—						7,192,317
JAGSEI			573						5,866						7,398						—						7,398						—						7,398
JAGTS			2,514,105						40,517,516						60,187,675						4						60,187,679						—						60,187,679
JAIGS			106,857						4,595,609						5,665,551						—						5,665,551						3						5,665,548
JAMGS			389,611						26,606,703						28,577,979						5						28,577,984						—						28,577,984
JAMVS			150,068						2,362,569						2,518,148						1						2,518,149						—						2,518,149
JAWGS			2,837						202,809						216,782						—						216,782						—						216,782
LZREMS			412,446						8,582,294						12,323,877						8						12,323,885						—						12,323,885
LPVCII			8,179						183,188						165,635						—						165,635						1						165,634
LVCLGI			2,690						134,843						129,375						—						129,375						—						129,375
SBVSG			545,695						14,812,932						15,388,596						7						15,388,603						—						15,388,603
BNCAI			15,975						1,079,916						951,429						—						951,429						—						951,429
LACCA2			117,539						2,089,640						1,781,896						3						1,781,899						—						1,781,899
LACDV2			365,128						3,139,037						3,534,443						—						3,534,443						70						3,534,373
LACI2			392,949						4,344,180						4,811,660						2						4,811,662						—						4,811,662
LACIP2			2,883,761						27,144,590						26,031,711						—						26,031,711						2						26,031,709
LACIPS			—						3						2						133						135						—						135
LACMV2			681,014						13,240,079						13,176,939						—						13,176,939						1						13,176,938

 

See accompanying notes to financial statements.

NATIONWIDE VLI SEPARATE ACCOUNT-4

STATEMENTS OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY

DECEMBER 31, 2025

 

														Investments, at						Accounts												Accounts						Contract Owners’
Subaccount*,**		Shares***						Cost						fair value						Receivable						Total Assets						Payable						Equity
LACU2			538,350						14,089,438						16,955,867						8						16,955,875						—						16,955,875
LACV2			979,858						12,030,777						12,658,779						6						12,658,785						—						12,658,785
LJPMVS			5,738,788						54,722,660						51,717,955						9						51,717,964						—						51,717,964
LJPSCS			61,516						1,201,424						1,350,034						1						1,350,035						—						1,350,035
LOVBD			496,872						5,363,198						5,271,817						2						5,271,819						—						5,271,819
LOVSDC			569,314						7,613,086						7,549,100						4						7,549,104						—						7,549,104
LOVTRC			1,101,024						15,772,318						15,634,543						2						15,634,545						—						15,634,545
M3GREI			7,820						99,293						99,231						—						99,231						1						99,230
M3GRES			64,635						1,011,369						1,005,716						1						1,005,717						—						1,005,717
MEGSS			53,504						3,320,098						3,246,606						2						3,246,608						—						3,246,608
MMCGSC			620,761						4,526,783						4,078,398						—						4,078,398						—						4,078,398
MNDIC			66,142						866,715						1,031,813						—						1,031,813						—						1,031,813
MNDSC			429,110						4,262,269						5,192,228						—						5,192,228						1						5,192,227
MV2EEI			6,663						116,200						117,597						—						117,597						1						117,596
MV2EES			48,289						728,535						836,366						2						836,368						—						836,368
MV2RIS			951,382						17,405,848						19,284,513						7						19,284,520						—						19,284,520
MV3LMI			233,031						2,405,829						2,381,579						—						2,381,579						2						2,381,577
MV3LMS			1,253,096						12,924,042						12,806,637						—						12,806,637						—						12,806,637
MV3MVI			66,711						691,613						674,449						—						674,449						—						674,449
MV3MVS			323,016						3,236,275						3,207,547						—						3,207,547						—						3,207,547
MVBRES			63,634						3,581,272						3,798,958						1						3,798,959						—						3,798,959
MVFSC			3,803,120						79,743,072						82,033,300						14						82,033,314						—						82,033,314
MVIGIC			42,823						680,620						768,252						1						768,253						—						768,253
MVIVSC			2,537,940						77,728,184						91,746,541						—						91,746,541						116						91,746,425
MVRBSS			674,177						7,685,437						7,780,008						3						7,780,011						—						7,780,011
MSEM			873,075						5,028,318						4,723,338						1						4,723,339						—						4,723,339
MSVEG			392,317						8,221,954						10,419,927						1						10,419,928						—						10,419,928
MSVMG			255,596						1,822,086						1,865,848						—						1,865,848						1						1,865,847
DTRTFB			81,990						743,564						678,878						—						678,878						—						678,878
EIF			873,245						17,079,589						20,294,215						1						20,294,216						—						20,294,216
GBF			9,098,917						86,028,133						86,621,691						—						86,621,691						5						86,621,686
GEM			1,363,212						18,003,737						20,270,966						—						20,270,966						—						20,270,966
GIG			4,017,518						54,349,942						62,110,832						—						62,110,832						1,813						62,109,019

 

See accompanying notes to financial statements.