# EDGAR Filing Document

**Accession Number:** 0000217087
**File Stem:** 0001752724-23-045171
**Filing Date:** 2023-2
**Character Count:** 59125
**Document Hash:** b4ef49cb1a672118f6c9187ee2fec2ff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-045171.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-045171

**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:** 23680486

**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 O (ALL CAP VALUE SERIES) (Series ID: S000010054)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000027853 | 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 O (All Cap Value Series)

- **b. EDGAR series identifier (if any):** S000010054

- **c. LEI of Series:** 54930048Q6OB360YDF79

**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:** $94056039.29

**Total Liabilities:** $110721.78

**Net Assets:** $93945317.51

**Cash Not Reported:** $1175.26

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000027853 | 11.30%               | 5.61%                | -3.96%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $276748.69               | $9242306.96                                |
| Month 2  | $470862.45               | $4590167.66                                |
| Month 3  | $802702.10               | $-4852031.69                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Fox Corp                       | Fox Corp.                                                               | CUSIP: 35137L204<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     24211 | NS      | $688802.95    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc             | HCA Healthcare, Inc.                                                    | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      1707 | NS      | $409611.72    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Lakeland Industries Inc        | Lakeland Industries, Inc.                                               | CUSIP: 511795106<br>LEI: 549300HGP70IM9WKU164 | Long             | EC               | CORP              | US        |      6577 | NS      | $87474.10     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc              | Kinder Morgan, Inc.                                                     | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |     36763 | NS      | $664675.04    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                   | Teradyne, Inc.                                                          | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |     11150 | NS      | $973952.50    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Inc                  | Ingredion, Inc.                                                         | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     15668 | NS      | $1534367.24   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                   | Chevron Corp.                                                           | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14038 | NS      | $2519680.62   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                     | Fiserv, Inc.                                                            | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |      5115 | NS      | $516973.05    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp                     | Nucor Corp.                                                             | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |      4515 | NS      | $595122.15    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties  | Gaming and Leisure Properties, Inc.                                     | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |      7190 | NS      | $374527.10    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| United Community Banks Inc/GA  | United Community Banks, Inc.                                            | CUSIP: 90984P303<br>LEI: 549300GVW0FV66X3U703 | Long             | EC               | CORP              | US        |      4420 | NS      | $149396.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp/IN        | Old National Bancorp                                                    | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |     15146 | NS      | $272325.08    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                    | Walmart, Inc.                                                           | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      8159 | NS      | $1156864.61   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co   | Graphic Packaging Holding Co.                                           | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20768 | NS      | $462088.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| H&E Equipment Services Inc     | H&E Equipment Services, Inc.                                            | CUSIP: 404030108<br>LEI: 254900KVLRCDMQRYY541 | Long             | EC               | CORP              | US        |     11692 | NS      | $530816.80    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| UniFirst Corp/MA               | UniFirst Corp.                                                          | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |       918 | NS      | $177164.82    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Steel & Aluminum Co   | Reliance Steel & Aluminum Co.                                           | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      5239 | NS      | $1060583.16   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc         | Berkshire Hathaway, Inc.                                                | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      6640 | NS      | $2051096.00   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Natural Resources Co   | Pioneer Natural Resources Co.                                           | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               | CORP              | US        |      8092 | NS      | $1848131.88   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa Inc                     | Arcosa, Inc.                                                            | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |      6519 | NS      | $354242.46    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc         | Diamondback Energy, Inc.                                                | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      3889 | NS      | $531937.42    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                 | Merck & Company, Inc.                                                   | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      9829 | NS      | $1090527.55   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp            | American Tower Corp.                                                    | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      1450 | NS      | $307197.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                  | Westlake Corp.                                                          | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |     13907 | NS      | $1426023.78   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SVB Financial Group            | SVB Financial Group                                                     | CUSIP: 78486Q101<br>LEI: 549300D2KJ20JMXE7542 | Long             | EC               | CORP              | US        |       775 | NS      | $178358.50    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira BioSciences Inc         | Pacira BioSciences, Inc.                                                | CUSIP: 695127100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2272 | NS      | $87721.92     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC       | Jazz Pharmaceuticals plc                                                | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | US        |       640 | NS      | $101958.40    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Stoneridge Inc                 | Stoneridge, Inc.                                                        | CUSIP: 86183P102<br>LEI: PNBCIH9LE7WI83VJIF08 | Long             | EC               | CORP              | US        |      6430 | NS      | $138630.80    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho | Knight-Swift Transportation Holdings, Inc.                              | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21358 | NS      | $1119372.78   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc             | Voya Financial, Inc.                                                    | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |     11903 | NS      | $731915.47    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp        | Wintrust Financial Corp.                                                | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |      1986 | NS      | $167856.72    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp     | Pinnacle West Capital Corp.                                             | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |     16818 | NS      | $1278840.72   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp  | First American Financial Corp.                                          | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |      4603 | NS      | $240921.02    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BOK Financial Corp             | BOK Financial Corp.                                                     | CUSIP: 05561Q201<br>LEI: GRI2NT5QHYW751NMR949 | Long             | EC               | CORP              | US        |      9094 | NS      | $943866.26    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd      | Axis Capital Holdings Ltd.                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      5505 | NS      | $298205.85    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc          | Micron Technology, Inc.                                                 | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     23004 | NS      | $1149739.92   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| IFF                            | International Flavors & Fragrances, Inc.                                | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |      1983 | NS      | $207897.72    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co        | Bristol-Myers Squibb Co.                                                | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      5239 | NS      | $376946.05    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc            | STAG Industrial, Inc.                                                   | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |     15226 | NS      | $491952.06    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                       | Equities Corp.                                                          | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |      9599 | NS      | $324734.17    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc          | Euronet Worldwide, Inc.                                                 | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     12325 | NS      | $1163233.50   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| AZEK Co Inc/The                | AZEK Company, Inc.                                                      | CUSIP: 05478C105<br>LEI: 5493002LDDDU1RX46815 | Long             | EC               | CORP              | US        |      4251 | NS      | $86380.32     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| J M Smucker Co/The             | J M Smucker Co.                                                         | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |      4784 | NS      | $758072.64    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Infinera Corp                  | Infinera Corp.                                                          | CUSIP: 45667G103<br>LEI: 549300ZOF66WPV3H0H17 | Long             | EC               | CORP              | US        |     49770 | NS      | $335449.80    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Daseke Inc                     | Daseke, Inc.                                                            | CUSIP: 23753F107<br>LEI: 549300CUSFIOX5Q3VA53 | Long             | EC               | CORP              | US        |     45933 | NS      | $261358.77    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Teledyne Technologies Inc      | Teledyne Technologies, Inc.                                             | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |      1590 | NS      | $635856.90    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc            | VICI Properties, Inc.                                                   | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |      4779 | NS      | $154839.60    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp          | Encompass Health Corp.                                                  | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     13794 | NS      | $825019.14    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries Inc | Advanced Energy Industries, Inc.                                        | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |      5649 | NS      | $484571.22    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Ironwood Pharmaceuticals Inc   | Ironwood Pharmaceuticals, Inc.                                          | CUSIP: 46333X108<br>LEI: 549300PC8MR6QHH6P296 | Long             | EC               | CORP              | US        |      8172 | NS      | $101251.08    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Azenta Inc                     | Azenta, Inc.                                                            | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |      2750 | NS      | $160105.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc           | Freeport-McMoRan, Inc.                                                  | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     15267 | NS      | $580146.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp            | Curtiss-Wright Corp.                                                    | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      2348 | NS      | $392092.52    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp           | Bank of America Corp.                                                   | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     45454 | NS      | $1505436.48   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc       | Patterson-UTI Energy, Inc.                                              | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |     21280 | NS      | $358355.20    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Oil Corp              | Marathon Oil Corp.                                                      | CUSIP: 565849106<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | EC               | CORP              | US        |     24310 | NS      | $658071.70    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The             | Home Depot, Inc.                                                        | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      1560 | NS      | $492741.60    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc            | Mercury Systems, Inc.                                                   | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |      4933 | NS      | $220702.42    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc     | Verizon Communications, Inc.                                            | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     27789 | NS      | $1094886.60   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                | T-Mobile US, Inc.                                                       | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      2640 | NS      | $369600.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Cor | Old Republic International Corp.                                        | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |     14148 | NS      | $341674.20    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Moderna Inc                    | Moderna, Inc.                                                           | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |      3118 | NS      | $560055.16    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Science Applications Internati | Science Applications International Corp.                                | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |      4099 | NS      | $454702.07    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp                     | FedEx Corp.                                                             | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |      3213 | NS      | $556491.60    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| MSC Industrial Direct Co Inc   | MSC Industrial Direct Company, Inc.                                     | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |      6117 | NS      | $499758.90    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolent Health Inc             | Evolent Health, Inc.                                                    | CUSIP: 30050B101<br>LEI: 549300CZOCFHQ2BBTR11 | Long             | EC               | CORP              | US        |     22593 | NS      | $634411.44    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                     | Unum Group                                                              | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     18643 | NS      | $764922.29    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp          | Stifel Financial Corp.                                                  | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |      4680 | NS      | $273171.60    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The        | Charles Schwab Corp.                                                    | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     10274 | NS      | $855413.24    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp.                                                         | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      3160 | NS      | $757831.20    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                        | EnerSys                                                                 | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |      2114 | NS      | $156097.76    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Insurance Holdings In | Heritage Insurance Holdings, Inc.                                       | CUSIP: 42727J102<br>LEI: 9845008CCYDD87F66B45 | Long             | EC               | CORP              | US        |      6962 | NS      | $12531.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems, Inc.                                                     | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     14121 | NS      | $672724.44    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc            | Delta Air Lines, Inc.                                                   | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     17521 | NS      | $575740.06    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Esab Corp                      | Esab Corp.                                                              | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |      3380 | NS      | $158589.60    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Schein Inc               | Henry Schein, Inc.                                                      | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |     13673 | NS      | $1092062.51   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corp                     | Ciena Corp.                                                             | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |      7281 | NS      | $371185.38    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                    | Exelon Corp.                                                            | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     20760 | NS      | $897454.80    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                       | PPL Corp.                                                               | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |      9865 | NS      | $288255.30    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Altra Industrial Motion Corp   | Altra Industrial Motion Corp.                                           | CUSIP: 02208R106<br>LEI: NQ0NIXPGW4YKG4MWM571 | Long             | EC               | CORP              | US        |      5805 | NS      | $346848.75    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc            | Leidos Holdings, Inc.                                                   | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     10336 | NS      | $1087243.84   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                 | ConocoPhillips                                                          | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     12079 | NS      | $1425322.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                 | Littelfuse, Inc.                                                        | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |      1841 | NS      | $405388.20    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc      | L3Harris Technologies, Inc.                                             | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      2536 | NS      | $528020.56    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corp                 | Whirlpool Corp.                                                         | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |      4317 | NS      | $610682.82    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| ICF International Inc          | ICF International, Inc.                                                 | CUSIP: 44925C103<br>LEI: 5493003KYFDDC5B3WY64 | Long             | EC               | CORP              | US        |      1592 | NS      | $157687.60    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp       | Pan American Silver Corp.                                               | CUSIP: 697900132<br>LEI: 549300MKTF5851TYIB83 | Long             |  | CORP              | US        |     40146 | NS      | $22923.37     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co.                                                    | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     16798 | NS      | $2252611.80   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc     | Apple Hospitality REIT, Inc.                                            | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |     15426 | NS      | $243422.28    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                        | Dow, Inc.                                                               | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |      3272 | NS      | $164876.08    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co      | Archer-Daniels-Midland Co.                                              | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     10876 | NS      | $1009836.60   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Aerospace Corp            | Park Aerospace Corp.                                                    | CUSIP: 70014A104<br>LEI: 5299004AG0G7IB636095 | Long             | EC               | CORP              | US        |     14655 | NS      | $196523.55    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Trustmark Corp                 | Trustmark Corp.                                                         | CUSIP: 898402102<br>LEI: 5493000HPQ4D2RZ79739 | Long             | EC               | CORP              | US        |      5229 | NS      | $182544.39    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd                     | Amdocs Ltd.                                                             | CUSIP: N/A<br>LEI: 549300HQV672RJ7RQV66       | Long             | EC               | CORP              | US        |      4891 | NS      | $444591.90    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Laboratories Inc       | Silicon Laboratories, Inc.                                              | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               | CORP              | US        |      1684 | NS      | $228468.28    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The    | Goldman Sachs Group, Inc.                                               | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      1527 | NS      | $524341.26    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours Inc          | DuPont de Nemours, Inc.                                                 | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |      2496 | NS      | $171300.48    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Ltd                      | Bunge Ltd.                                                              | CUSIP: N/A<br>LEI: 5493007M0RIN8HY3MM77       | Long             | EC               | CORP              | US        |     15296 | NS      | $1526081.92   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc            | Sun Communities, Inc.                                                   | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |      2052 | NS      | $293436.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp               | Black Hills Corp.                                                       | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |     12525 | NS      | $881008.50    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc         | Power Integrations, Inc.                                                | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |      2155 | NS      | $154556.60    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                     | PACCAR, Inc.                                                            | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |      5968 | NS      | $590652.96    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| United Bankshares Inc/WV       | United Bankshares, Inc.                                                 | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |      4125 | NS      | $167021.25    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc   | Texas Capital Bancshares, Inc.                                          | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |      6699 | NS      | $404016.69    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU Resources Group Inc        | MDU Resources Group, Inc.                                               | CUSIP: 552690109<br>LEI: 0T6SBMK3JTBI1JR36794 | Long             | EC               | CORP              | US        |     13111 | NS      | $397787.74    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian Inc             | First Hawaiian, Inc.                                                    | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |      6166 | NS      | $160562.64    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corp          | Integer Holdings Corp.                                                  | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |      4278 | NS      | $292871.88    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corp                    | Enovis Corp.                                                            | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |      5089 | NS      | $272363.28    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                                                       | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     10119 | NS      | $1787521.35   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp               | Duke Energy Corp.                                                       | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      5623 | NS      | $579112.77    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                  | Medtronic plc                                                           | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | US        |      9686 | NS      | $752795.92    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc         | Valmont Industries, Inc.                                                | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |      3396 | NS      | $1122955.32   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co               | Wells Fargo & Co.                                                       | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     17301 | NS      | $714358.29    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc             | Coterra Energy, Inc.                                                    | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     29092 | NS      | $714790.44    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Plexus Corp                    | Plexus Corp.                                                            | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |      1806 | NS      | $185891.58    | 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        |      4023 | NS      | $253368.54    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                     | Humana, Inc.                                                            | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      1823 | NS      | $933722.37    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashland Inc                    | Ashland, Inc.                                                           | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |      2721 | NS      | $292589.13    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                   | Comcast Corp.                                                           | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     22453 | NS      | $785181.41    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International           | Edison International                                                    | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |     15015 | NS      | $955254.30    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp            | Meritage Homes Corp.                                                    | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |      1010 | NS      | $93122.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Inc          | Quest Diagnostics, Inc.                                                 | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |      8541 | NS      | $1336154.04   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                     | Kirby Corp.                                                             | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |      6945 | NS      | $446910.75    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Juniper Networks Inc           | Juniper Networks, Inc.                                                  | CUSIP: 48203R104<br>LEI: AUHIXNGG7U2U7JEHM527 | Long             | EC               | CORP              | US        |     13304 | NS      | $425195.84    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                  | McKesson Corp.                                                          | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      1423 | NS      | $533795.76    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| PGT Innovations Inc            | PGT Innovations, Inc.                                                   | CUSIP: 69336V101<br>LEI: 549300LRW9WM59C1S579 | Long             | EC               | CORP              | US        |     12485 | NS      | $224230.60    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The             | Walt Disney Co.                                                         | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      6367 | NS      | $553164.96    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| First Merchants Corp           | First Merchants Corp.                                                   | CUSIP: 320817109<br>LEI: TZTBT0OTGQ2FEK6XMX94 | Long             | EC               | CORP              | US        |     13604 | NS      | $559260.44    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Leggett & Platt Inc            | Leggett & Platt, Inc.                                                   | CUSIP: 524660107<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | EC               | CORP              | US        |      4193 | NS      | $135140.39    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equitie | Alexandria Real Estate Equities, Inc.                                   | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |      2133 | NS      | $310714.11    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                       | KLA Corp.                                                               | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      1826 | NS      | $688456.78    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp           | Hancock Whitney Corp.                                                   | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |      6119 | NS      | $296098.41    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Co        | Central Garden & Pet Co.                                                | CUSIP: 153527205<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |      7922 | NS      | $283607.60    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott Vacations Worldwide C | Marriott Vacations Worldwide Corp.                                      | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |      1054 | NS      | $141857.86    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp                | OGE Energy Corp.                                                        | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |     44999 | NS      | $1779710.45   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Physicians Realty Trust        | Physicians Realty Trust                                                 | CUSIP: 71943U104<br>LEI: 549300ITOVH0OY7PZC34 | Long             | EC               | CORP              | US        |     29711 | NS      | $429918.17    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                 | Mastercard, Inc.                                                        | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      2031 | NS      | $706239.63    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp                    | Avient Corp.                                                            | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |      8639 | NS      | $291652.64    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Methode Electronics Inc        | Methode Electronics, Inc.                                               | CUSIP: 591520200<br>LEI: 529900VM413LGLUS3F07 | Long             | EC               | CORP              | US        |      7815 | NS      | $346751.55    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corp                     | Terex Corp.                                                             | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |      8905 | NS      | $380421.60    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                     | Pfizer, Inc.                                                            | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |      7912 | NS      | $405410.88    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                | Tyson Foods, Inc.                                                       | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |     16562 | NS      | $1030984.50   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Materials Inc           | Summit Materials, Inc.                                                  | CUSIP: 86614U100<br>LEI: 549300XNOLX5GIOSO108 | Long             | EC               | CORP              | US        |      6366 | NS      | $180730.74    | 0.19%             |  |  |  | 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        |   2139137 | NS      | $2139136.53   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corp                      | GATX Corp.                                                              | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |      2150 | NS      | $228631.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International | Johnson Controls International plc                                      | CUSIP: N/A<br>LEI: 549300XQ6S1GYKGBL205       | Long             | EC               | CORP              | US        |     19318 | NS      | $1236352.00   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Alaska Air Group Inc           | Alaska Air Group, Inc.                                                  | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |      5933 | NS      | $254763.02    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralph Lauren Corp              | Ralph Lauren Corp.                                                      | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |      5600 | NS      | $591752.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co          | Southwest Airlines Co.                                                  | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     14749 | NS      | $496598.83    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc                   | NiSource, Inc.                                                          | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |     18936 | NS      | $519225.12    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| T Rowe Price Group Inc         | T. Rowe Price Group, Inc.                                               | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | EC               | CORP              | US        |      2640 | NS      | $287918.40    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp                       | PVH Corp.                                                               | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |      6578 | NS      | $464341.02    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Spire Inc                      | Spire, Inc.                                                             | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |      3327 | NS      | $229097.22    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet, Inc.                                                          | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     14120 | NS      | $1245807.60   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc      | Prosperity Bancshares, Inc.                                             | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9109 | NS      | $662042.12    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntsman Corp                  | Huntsman Corp.                                                          | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |     45965 | NS      | $1263118.20   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonoco Products Co             | Sonoco Products Co.                                                     | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | EC               | CORP              | US        |      2930 | NS      | $177880.30    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                  | Coherent Corp.                                                          | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      3098 | NS      | $108739.80    | 0.12%             |  |  |  | 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