# EDGAR Filing Document

**Accession Number:** 0000810695
**File Stem:** 0000910472-26-002959
**Filing Date:** 2026-2
**Character Count:** 21184
**Document Hash:** 45cc7b3bb0e7d8ca39a835d746364aea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-002959.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000910472-26-002959

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mutual Fund & Variable Insurance Trust
- **CENTRAL INDEX KEY:** 0000810695

**ORGANIZATION NAME:**
- **EIN:** 043023766
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05010
- **FILM NUMBER:** 26691814

**BUSINESS ADDRESS:**
- **STREET 1:** C/O GEMINI FUND SERVICES, LLC
- **STREET 2:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022-3474
- **BUSINESS PHONE:** 800-253-0412

**MAIL ADDRESS:**
- **STREET 1:** C/O GEMINI FUND SERVICES, LLC
- **STREET 2:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022-3474

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HUNTINGTON FUNDS
- **DATE OF NAME CHANGE:** 20040922

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HUNTINGTON FUNDS /MA/
- **DATE OF NAME CHANGE:** 19990106

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MONITOR FUNDS
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Rational Equity Armor Fund (Series ID: S000005856)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000016036 | Rational Equity Armor Fund Class A Shares       | HDCAX           |
| C000016038 | Rational Equity Armor Fund Institutional Shares | HDCTX           |
| C000135443 | Rational Equity Armor Fund Class C Shares       | HDCEX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Mutual Fund & Variable Insurance Trust

- **b. Investment Company Act file number:** 811-05010

- **c. CIK number of Registrant:** 0000810695

- **d. LEI of Registrant:** 5493002ZGLQMLR4QMA96

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

  - **Street Address 1:** 2960 N. MERIDIAN STREET

  - **City:** INDIANAPOLIS

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46208

  - **Telephone number:** 800-253-0412

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

- **a. Name of Series:** Rational Equity Armor Fund

- **b. EDGAR series identifier (if any):** S000005856

- **c. LEI of Series:** 5493000T84B5N645DS88

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $59556431.06

**Total Liabilities:** $4608268.65

**Net Assets:** $54948162.41

**Cash Not Reported:** $1520379.48

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000016036 | 4.21%                | -1.43%               | -2.73%               |
| Class ID C000016038 | 4.27%                | -1.42%               | -2.71%               |
| Class ID C000135443 | 4.13%                | -1.47%               | -2.81%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $176409.09               | $1093572.53                                |
| Month 2  | $457905.66               | $-873660.69                                |
| Month 3  | $-113045.09              | $-81044.31                                 |

**Designated Index Information**

- **Index Name:** RATIONAL EQUITY ARMOR DRP

- **Index Identifier:** RATIONAL EQUITY ARMOR DRP

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AbbVie Inc.                                  | ABBVIE INC               | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      4331 | NS      | $989590.19    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc.                  | ADV MICRO DEVICE         | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      2039 | NS      | $436672.24    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                | ALPHABET INC-C           | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      3862 | NS      | $1211895.60   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                | ALPHABET INC-A           | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      8099 | NS      | $2534987.00   | 4.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                             | AMAZON.COM INC           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      6928 | NS      | $1599120.96   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                   | APPLE INC                | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      4053 | NS      | $1101848.58   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc.                      | BERKSHIRE HATH-B         | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      4916 | NS      | $2471027.40   | 4.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                 | BROADCOM INC             | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      3812 | NS      | $1319333.20   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems, Inc.                 | CADENCE DESIGN           | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      1759 | NS      | $549828.22    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                              | CATERPILLAR INC          | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      1725 | NS      | $988200.75    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                          | CISCO SYSTEMS            | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     10714 | NS      | $825299.42    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp.                   | CONSTELLATION EN         | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      2010 | NS      | $710072.70    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Incorporated                         | CORNING INC              | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      2494 | NS      | $218374.64    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                              | DEERE & CO               | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      1648 | NS      | $767259.36    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                            | EXXON MOBIL CORP         | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     14699 | NS      | $1768877.66   | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                           | META PLATFORMS-A         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      2081 | NS      | $1373647.29   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.                    | FIRST AM-TR OB-X         | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |  10373179 | PA      | $10373179.32  | 18.88%            |  |  |  | No            |                  1 | On Loan: No      |
| GE Aerospace                                 | GENERAL ELECTRIC         | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      3194 | NS      | $983847.82    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                    | GOLDMAN SACHS GP         | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       563 | NS      | $494877.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| OPTION ISSUER                                | S&P Emini 3rd Wk  Jan26C | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |        10 | NC      | $3390000.00   | 6.17%             |  |  |  | No            |                  2 | On Loan: No      |
| OPTION ISSUER                                | S&P Emini 3rd Wk  Jan26C | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |       -10 | NC      | $-2391875.00  | -4.35%            |  |  |  | No            |                  2 | On Loan: No      |
| OPTION ISSUER                                | S&P Emini 3rd Wk  Jan26C | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |        -8 | NC      | $-159500.00   | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| OPTION ISSUER                                | S&P Emini 3rd Wk  Jan26C | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |       119 | NC      | $224612.50    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| OPTION ISSUER                                | S&P Emini 3rd Wk  Jan26P | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |       -10 | NC      | $-25.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OPTION ISSUER                                | S&P Emini 3rd Wk  Jan26P | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |        10 | NC      | $25.00        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OPTION ISSUER                                | S&P Emini 3rd Wk  Jan26P | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |       -43 | NC      | $-10857.50    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| OPTION ISSUER                                | S&P Emini 3rd Wk  Jan26P | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |       -17 | NC      | $-5907.50     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                            | HSBC HOLDING-ADR         | CUSIP: 404280406<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |      9800 | NS      | $770966.00    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp.        | IBM                      | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      4061 | NS      | $1202908.81   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc.                      | INTUITIVE SURGIC         | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      1548 | NS      | $876725.28    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                | ISHARES U.S. AER         | CUSIP: 464288760<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      3583 | NS      | $769234.27    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                | ISHARES CYBER-TC         | CUSIP: 46435U135<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      4563 | NS      | $219571.56    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                         | JPMORGAN CHASE           | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      5464 | NS      | $1760610.08   | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                              | ELI LILLY & CO           | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       921 | NS      | $989780.28    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                             | MCDONALDS CORP           | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      5774 | NS      | $1764707.62   | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                              | MICROSOFT CORP           | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      3642 | NS      | $1761344.04   | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                             | NRG ENERGY               | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      2418 | NS      | $385042.32    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                           | NEXTERA ENERGY           | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |      8916 | NS      | $715776.48    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                  | NOVARTIS AG-ADR          | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |      7186 | NS      | $990733.82    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                 | NVIDIA CORP              | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      8769 | NS      | $1635418.50   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc                    | PALANTIR TECHN-A         | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      7659 | NS      | $1361387.25   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                       | PALO ALTO NETWOR         | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      4463 | NS      | $822084.60    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Spdr S and P 500 Etf Trust      | SPDR S&P 500 ETF         | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |      3625 | NS      | $2471960.00   | 4.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd. | TAIWAN SEMIC-ADR         | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      3428 | NS      | $1041734.92   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software Inc.           | TAKE-TWO INTERAC         | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      1291 | NS      | $330534.73    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                    | TESLA INC                | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      2554 | NS      | $1148584.88   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                                  | VISTRA CORP              | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      2377 | NS      | $383481.41    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                  | WALMART INC              | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      6933 | NS      | $772405.53    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                            | WELLS FARGO & CO         | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      5291 | NS      | $493121.20    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Companies Inc. (The)                | WILLIAMS COS INC         | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     16594 | NS      | $997465.34    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE FUTURES EXCHANGE                        | CBOE VIX FUTURE   Mar26  | CUSIP: N/A<br>LEI: 529900RLNSGA90UPEH54       | Long             | DE               | CORP              | US        |       155 | NC      | $-58952.11    | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| CBOE FUTURES EXCHANGE                        | CBOE VIX FUTURE   Apr26  | CUSIP: N/A<br>LEI: 529900RLNSGA90UPEH54       | Long             | DE               | CORP              | US        |       122 | NC      | $23052.60     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-28

**Name of Applicant:** Mutual Fund & Variable Insurance Trust

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer