# EDGAR Filing Document

**Accession Number:** 0000217087
**File Stem:** 0001752724-23-045005
**Filing Date:** 2023-2
**Character Count:** 60912
**Document Hash:** d72547ed11d2134d4ee584146d915f6a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-045005.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-045005

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Guggenheim Variable Funds Trust
- **CENTRAL INDEX KEY:** 0000217087
- **IRS NUMBER:** 480873454
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02753
- **FILM NUMBER:** 23680307

**BUSINESS ADDRESS:**
- **STREET 1:** 702 KING FARM BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850
- **BUSINESS PHONE:** 301-296-5100

**MAIL ADDRESS:**
- **STREET 1:** 702 KING FARM BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SBL FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### SERIES J (STYLEPLUS - MID GROWTH SERIES) (Series ID: S000010069)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000027868 | A            |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Guggenheim Variable Funds Trust

- **b. Investment Company Act file number:** 811-02753

- **c. CIK number of Registrant:** 0000217087

- **d. LEI of Registrant:** 549300QDJHZ1HF5UC735

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 702 King Farm Blvd., Suite 200

  - **City:** Rockville

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 20850

  - **Telephone number:** 301-296-5100

**Item A.2. Information about the Series.**

- **a. Name of Series:** Series J (StylePlus-Mid Growth Series)

- **b. EDGAR series identifier (if any):** S000010069

- **c. LEI of Series:** 549300KTVG0K0HAUNZ26

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $149663992.18

**Total Liabilities:** $4498267.29

**Net Assets:** $145165724.89

**Cash Not Reported:** $4768305.09

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -0.65588271 | **1-Year:** 13689.83241299 | **5-Year:** 7295.96846454 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000027868 | 8.07%                | 6.16%                | -5.83%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-908003.21              | $3091530.74                                |
| Month 2  | $-222300.02              | $2872998.18                                |
| Month 3  | $-658204.46              | $-901825.88                                |

**Designated Index Information**

- **Index Name:** Russell MidCap Growth Index

- **Index Identifier:** RMIDG

### Schedule of Portfolio Investments

| Name                                          | Title                                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| H&R Block Inc                                 | H&R Block, Inc.                                                         | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |      4691 | NS      | $171268.41    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                         | NXP Semiconductor N.V.                                                  | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | US        |       611 | NS      | $96556.33     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo Bank, N.A.                        | Russell MidCap Growth Index Total Return                                | CUSIP: N/A<br>LEI: KB1H1DSPRFMYMCUFXT09       | N/A              | DE               |  | US        |     27817 | NC      | $2109057.12   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| nVent Electric PLC                            | nVent Electric plc                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      5718 | NS      | $219971.46    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp                              | Boyd Gaming Corp.                                                       | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |      5537 | NS      | $301932.61    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                               | EMCOR Group, Inc.                                                       | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |       987 | NS      | $146184.57    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide Inc                             | ACI Worldwide, Inc.                                                     | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |     10356 | NS      | $238188.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho                | Knight-Swift Transportation Holdings, Inc.                              | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1580 | NS      | $82807.80     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Brands Inc                             | Acuity Brands, Inc.                                                     | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1804 | NS      | $298760.44    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| United Community Banks Inc/GA                 | United Community Banks, Inc.                                            | CUSIP: 90984P303<br>LEI: 549300GVW0FV66X3U703 | Long             | EC               | CORP              | US        |      4792 | NS      | $161969.60    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Steel & Aluminum Co                  | Reliance Steel & Aluminum Co.                                           | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      1438 | NS      | $291108.72    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Inc                         | Quest Diagnostics, Inc.                                                 | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |      1975 | NS      | $308969.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Polaris Inc                                   | Polaris, Inc.                                                           | CUSIP: 731068102<br>LEI: 549300QJSN8UVWN1EI78 | Long             | EC               | CORP              | US        |      1107 | NS      | $111807.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp                          | Targa Resources Corp.                                                   | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      2542 | NS      | $186837.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands Inc                               | Yum! Brands, Inc.                                                       | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |      2112 | NS      | $270504.96    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC                      | Jazz Pharmaceuticals plc                                                | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | US        |      1317 | NS      | $209811.27    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Donaldson Co Inc                              | Donaldson Company, Inc.                                                 | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |      6568 | NS      | $386658.16    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Esab Corp                                     | Esab Corp.                                                              | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |      3070 | NS      | $144044.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel Inc                                    | Mattel, Inc.                                                            | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |      6095 | NS      | $108734.80    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo Inc                                     | Qorvo, Inc.                                                             | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |      1502 | NS      | $136141.28    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| HP Inc                                        | HP, Inc.                                                                | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |      4359 | NS      | $117126.33    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc                         | RPM International, Inc.                                                 | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |      1145 | NS      | $111580.25    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| YETI Holdings Inc                             | YETI Holdings, Inc.                                                     | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |      2872 | NS      | $118642.32    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                                   | Maximus, Inc.                                                           | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |      2806 | NS      | $205763.98    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | S&P MidCap 400 Index Mini Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        16 | NC      | $-50600.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Teradata Corp                                 | Teradata Corp.                                                          | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |      5122 | NS      | $172406.52    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                                | Ameris Bancorp                                                          | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |      4907 | NS      | $231315.98    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Consensus Cloud Solutions Inc                 | Consensus Cloud Solutions, Inc.                                         | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         0 | NS      | $17.90        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Strategy Fund II                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |   1087353 | NS      | $26139975.42  | 18.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Masterbrand Inc                               | Masterbrand, Inc.                                                       | CUSIP: 57638P104<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | EC               | CORP              | US        |      2176 | NS      | $16428.80     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Choice Hotels International In                | Choice Hotels International, Inc.                                       | CUSIP: 169905106<br>LEI: 5493003CYRY5RFGTIR97 | Long             | EC               | CORP              | US        |       742 | NS      | $83578.88     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie                | Applied Industrial Technologies, Inc.                                   | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |       686 | NS      | $86456.58     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Ultra Short Duration Fund - Institutional Class              | CUSIP: 40169J523<br>LEI: N/A                  | Long             | EC               | RF                | US        |    279517 | NS      | $2694547.43   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc                      | Acadia Healthcare Company, Inc.                                         | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |      1017 | NS      | $83719.44     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Co                          | National Fuel Gas Co.                                                   | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |      1502 | NS      | $95076.60     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corp                                   | Bruker Corp.                                                            | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |      1372 | NS      | $93776.20     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CommVault Systems Inc                         | CommVault Systems, Inc.                                                 | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |      4837 | NS      | $303957.08    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions Inc                        | Skyworks Solutions, Inc.                                                | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |      1205 | NS      | $109811.65    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Strategy Fund III                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |   1786423 | NS      | $42981334.88  | 29.61%            |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                                  | Exelixis, Inc.                                                          | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     13698 | NS      | $219715.92    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings I                | BJ's Wholesale Club Holdings, Inc.                                      | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |      1257 | NS      | $83163.12     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PL                | Seagate Technology Holdings plc                                         | CUSIP: N/A<br>LEI: 635400RUXIFEZSRU8X70       | Long             | EC               | CORP              | US        |      1703 | NS      | $89594.83     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                                 | TopBuild Corp.                                                          | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      1159 | NS      | $181371.91    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | NASDAQ-100 Index Mini Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         4 | NC      | $-64671.00    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc                                     | Graco, Inc.                                                             | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |      1959 | NS      | $131762.34    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc                      | Manhattan Associates, Inc.                                              | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |      1076 | NS      | $130626.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc                      | Microchip Technology, Inc.                                              | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      1728 | NS      | $121392.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                                     | ONEOK, Inc.                                                             | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |      2914 | NS      | $191449.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc                    | Neurocrine Biosciences, Inc.                                            | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      2947 | NS      | $351989.68    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp                         | ON Semiconductor Corp.                                                  | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      1443 | NS      | $89999.91     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp/The                             | Middleby Corp.                                                          | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |      1368 | NS      | $183175.20    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc                                    | Rambus, Inc.                                                            | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |      4978 | NS      | $178311.96    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc                       | Nexstar Media Group, Inc.                                               | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |       659 | NS      | $115344.77    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc                        | Mueller Industries, Inc.                                                | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |      4321 | NS      | $254939.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Synaptics Inc                                 | Synaptics, Inc.                                                         | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |      2579 | NS      | $245417.64    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ExlService Holdings Inc                       | ExlService Holdings, Inc.                                               | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |      1382 | NS      | $234152.26    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| QuidelOrtho Corp                              | QuidelOrtho Corp.                                                       | CUSIP: 219798105<br>LEI: 549300YU8CMO9HF53113 | Long             | EC               | CORP              | US        |      2305 | NS      | $197469.35    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp                      | United Therapeutics Corp.                                               | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      1605 | NS      | $446334.45    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings Inc                           | Silgan Holdings, Inc.                                                   | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |      1656 | NS      | $85847.04     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Sealed Air Corp                               | Sealed Air Corp.                                                        | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |      3644 | NS      | $181762.72    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingevity Corp                                 | Ingevity Corp.                                                          | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |      3845 | NS      | $270841.80    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings Inc                 | Lincoln Electric Holdings, Inc.                                         | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |      2893 | NS      | $418009.57    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc                           | Onto Innovation, Inc.                                                   | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |      1353 | NS      | $92125.77     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Masco Corp                                    | Masco Corp.                                                             | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |      3696 | NS      | $172492.32    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd                                   | Genpact Ltd.                                                            | CUSIP: N/A<br>LEI: 529900OSEC6Q0L4L5B35       | Long             | EC               | CORP              | US        |      6554 | NS      | $303581.28    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp                        | Louisiana-Pacific Corp.                                                 | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      6338 | NS      | $375209.60    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Olin Corp                                     | Olin Corp.                                                              | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |      7924 | NS      | $419496.56    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp                               | OGE Energy Corp.                                                        | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |      3690 | NS      | $145939.50    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc                      | Builders FirstSource, Inc.                                              | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      6870 | NS      | $445725.60    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes Inc                                    | Diodes, Inc.                                                            | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |      2904 | NS      | $221110.56    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corp                                 | Repligen Corp.                                                          | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |      1111 | NS      | $188103.41    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Toro Co/The                                   | Toro Co.                                                                | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |      2644 | NS      | $299300.80    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts Inc                  | Wyndham Hotels & Resorts, Inc.                                          | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |      4759 | NS      | $339364.29    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc                         | Lumentum Holdings, Inc.                                                 | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |      3588 | NS      | $187185.96    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                                     | Jabil, Inc.                                                             | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |      2174 | NS      | $148266.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                                 | Dynatrace, Inc.                                                         | CUSIP: 268150109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5830 | NS      | $223289.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc                        | CACI International, Inc.                                                | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |       287 | NS      | $86269.33     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp                               | Fair Isaac Corp.                                                        | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       718 | NS      | $429780.44    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc                  | Simpson Manufacturing Company, Inc.                                     | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |      3769 | NS      | $334159.54    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corp International/US                 | Service Corporation International                                       | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |      2568 | NS      | $177551.52    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Asbury Automotive Group Inc                   | Asbury Automotive Group, Inc.                                           | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Long             | EC               | CORP              | US        |       816 | NS      | $146268.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc                          | Medpace Holdings, Inc.                                                  | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |       822 | NS      | $174601.02    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys Inc                                    | Qualys, Inc.                                                            | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |      1646 | NS      | $184730.58    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs Inc                           | Churchill Downs, Inc.                                                   | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |       945 | NS      | $199801.35    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwestern Energy Co                        | Southwestern Energy Co.                                                 | CUSIP: 845467109<br>LEI: EFWMP121W54QV9MGOP87 | Long             | EC               | CORP              | US        |     21475 | NS      | $125628.75    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Securities Ca                | Dreyfus Treasury Securities Cash Management Fund - Institutional Shares | CUSIP: N/A<br>LEI: 549300U78VESCW509025       | Long             | STIV             | RF                | US        |   2498810 | NS      | $2498809.85   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                                   | Trex Company, Inc.                                                      | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3420 | NS      | $144768.60    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group Inc                 | Jefferies Financial Group, Inc.                                         | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |      2391 | NS      | $81963.48     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                 | Rexford Industrial Realty, Inc.                                         | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |      1083 | NS      | $59175.12     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic Inc                              | Cirrus Logic, Inc.                                                      | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |      4428 | NS      | $329797.44    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp                         | Stifel Financial Corp.                                                  | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |         0 | NS      | $29.19        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd                    | RenaissanceRe Holdings Ltd.                                             | CUSIP: N/A<br>LEI: EK6GB9U3U58PDI411C94       | Long             | EC               | CORP              | US        |       480 | NS      | $88430.40     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                         | Lantheus Holdings, Inc.                                                 | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      1590 | NS      | $81026.40     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Midstream Corp                         | Antero Midstream Corp.                                                  | CUSIP: 03676B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35999 | NS      | $388429.21    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Utilities Inc                       | Essential Utilities, Inc.                                               | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |      1817 | NS      | $86725.41     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                                  | Wingstop, Inc.                                                          | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |      1280 | NS      | $176153.60    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores Inc                    | Casey's General Stores, Inc.                                            | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |       714 | NS      | $160185.90    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO Corp                                     | AGCO Corp.                                                              | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |       673 | NS      | $93338.37     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc                 | Annaly Capital Management, Inc.                                         | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |      9876 | NS      | $208186.08    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                                       | NOV, Inc.                                                               | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |      9926 | NS      | $207354.14    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Variable Insurance Strategy Fund III                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |   1646839 | NS      | $39639404.26  | 27.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc                       | Darling Ingredients, Inc.                                               | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |      4804 | NS      | $300682.36    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc                                | Murphy USA, Inc.                                                        | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |       412 | NS      | $115170.48    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc                            | Steel Dynamics, Inc.                                                    | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |      4636 | NS      | $452937.20    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Display Corp                        | Universal Display Corp.                                                 | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1288 | NS      | $139155.52    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc                                    | NetApp, Inc.                                                            | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      2216 | NS      | $133092.96    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc                     | Halozyme Therapeutics, Inc.                                             | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      6042 | NS      | $343789.80    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | S&P 500 Index Mini Futures Contracts                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         5 | NC      | $-40818.75    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                     | CubeSmart                                                               | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2075 | NS      | $83518.75     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc                        | Power Integrations, Inc.                                                | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |      4252 | NS      | $304953.44    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Shockwave Medical Inc                         | Shockwave Medical, Inc.                                                 | CUSIP: 82489T104<br>LEI: 549300LDXO56IC5Y1538 | Long             | EC               | CORP              | US        |      1048 | NS      | $215479.28    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation Inc                                | AutoNation, Inc.                                                        | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2107 | NS      | $226081.10    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc                           | Eagle Materials, Inc.                                                   | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      3056 | NS      | $405989.60    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp                       | Wintrust Financial Corp.                                                | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |      2829 | NS      | $239107.08    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                                   | SiTime Corp.                                                            | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1133 | NS      | $115135.46    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp                     | Occidental Petroleum Corp.                                              | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |      2291 | NS      | $144310.09    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                                | Littelfuse, Inc.                                                        | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |      1219 | NS      | $268423.80    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Masimo Corp                                   | Masimo Corp.                                                            | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |       676 | NS      | $100014.20    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc                            | UFP Industries, Inc.                                                    | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |      3374 | NS      | $267389.50    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennox International Inc                      | Lennox International, Inc.                                              | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |       567 | NS      | $135643.41    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE                             | Brunswick Corp.                                                         | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |      4387 | NS      | $316214.96    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc                          | Amkor Technology, Inc.                                                  | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |      4595 | NS      | $110188.10    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical Inc                            | Globus Medical, Inc.                                                    | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |      2251 | NS      | $167181.77    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AMN Healthcare Services Inc                   | AMN Healthcare Services, Inc.                                           | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |       769 | NS      | $79068.58     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                        | Cathay General Bancorp                                                  | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |      7106 | NS      | $289853.74    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Hol                | MACOM Technology Solutions Holdings, Inc.                               | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3203 | NS      | $201724.94    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                                 | Owens Corning                                                           | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |       940 | NS      | $80182.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Incyte Corp                                   | Incyte Corp.                                                            | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |      1774 | NS      | $142487.68    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentrix Corp                               | Concentrix Corp.                                                        | CUSIP: 20602D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1700 | NS      | $226372.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Deckers Outdoor Corp                          | Deckers Outdoor Corp.                                                   | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |       474 | NS      | $189201.84    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co                          | Matador Resources Co.                                                   | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |      3200 | NS      | $183168.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                           | Axon Enterprise, Inc.                                                   | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      1226 | NS      | $203430.18    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc                                     | Calix, Inc.                                                             | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |      1714 | NS      | $117289.02    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Hologic Inc                                   | Hologic, Inc.                                                           | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |      3931 | NS      | $294078.11    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| VeriSign Inc                                  | VeriSign, Inc.                                                          | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |       446 | NS      | $91626.24     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc                           | Williams-Sonoma, Inc.                                                   | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      1855 | NS      | $213176.60    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc                 | Interactive Brokers Group, Inc.                                         | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |      3001 | NS      | $217122.35    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc                              | DT Midstream, Inc.                                                      | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6164 | NS      | $340622.64    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                                  | Evercore, Inc.                                                          | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |      2568 | NS      | $280117.44    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                     | Kinsale Capital Group, Inc.                                             | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |       515 | NS      | $134682.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Academy Sports & Outdoors Inc                 | Academy Sports & Outdoors, Inc.                                         | CUSIP: 00402L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3482 | NS      | $182944.28    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc                              | Carlisle Companies, Inc.                                                | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |      1715 | NS      | $404139.75    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp                           | Otis Worldwide Corp.                                                    | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |      1131 | NS      | $88568.61     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                                     | Crocs, Inc.                                                             | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |      2291 | NS      | $248413.13    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| LHC Group Inc                                 | LHC Group, Inc.                                                         | CUSIP: 50187A107<br>LEI: 5299009NPLWAMRQYZX73 | Long             | EC               | CORP              | US        |       524 | NS      | $84725.56     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp                           | Curtiss-Wright Corp.                                                    | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |       695 | NS      | $116058.05    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp                    | Lattice Semiconductor Corp.                                             | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |      4881 | NS      | $316679.28    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Tempur Sealy International Inc                | Tempur Sealy International, Inc.                                        | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |      6897 | NS      | $236774.01    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations Inc                | Fortune Brands Innovations, Inc.                                        | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |      2176 | NS      | $124271.36    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Watsco Inc                                    | Watsco, Inc.                                                            | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |       884 | NS      | $220469.60    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp                            | First Horizon Corp.                                                     | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |      5893 | NS      | $144378.50    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                                   | Hubbell, Inc.                                                           | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |       907 | NS      | $212854.76    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                                         | AECOM                                                                   | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |      1376 | NS      | $116863.68    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PDC Energy Inc                                | PDC Energy, Inc.                                                        | CUSIP: 69327R101<br>LEI: 5493008W8H2T511J5Y59 | Long             | EC               | CORP              | US        |      4946 | NS      | $313972.08    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc                 | Selective Insurance Group, Inc.                                         | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |      1003 | NS      | $88875.83     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Guggenheim Variable Funds Trust

**Signature:** Jim Howley

**Name of Signer:** Jim Howley

**Title:** CFO