# EDGAR Filing Document

**Accession Number:** 0000810695
**File Stem:** 0000910472-26-002962
**Filing Date:** 2026-2
**Character Count:** 16817
**Document Hash:** e912ece22b748223b4464b894fcd6475
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-002962.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000910472-26-002962

**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:** 26691816

**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/Pier 88 Convertible Securities Fund (Series ID: S000067226)

| Class ID   | Class Name                                                        | Ticker Symbol   |
|:---|:---|:---|
| C000216241 | Rational/Pier 88 Convertible Securities Fund-Institutional Shares | PBXIX           |
| C000216242 | Rational/Pier 88 Convertible Securities Fund-Class A Shares       | PBXAX           |
| C000216243 | Rational/Pier 88 Convertible Securities Fund-Class C Shares       | PBXCX           |

## 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/Pier 88 Convertible Securities Fund

- **b. EDGAR series identifier (if any):** S000067226

- **c. LEI of Series:** 549300U10SED5ENMOS28

**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:** $210313909.03

**Total Liabilities:** $238816.91

**Net Assets:** $210075092.12

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 408.92358400 | **1-Year:** 3213.38779800 | **5-Year:** 6650.45025400 | **10-Year:** 123.43123400 | **30-Year:** 0.00000000

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

- **3-Month:** 128.28166300 | **1-Year:** 3030.48112600 | **5-Year:** 1555.17642700 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000216241 | 0.09%                | 0.72%                | -0.80%               |
| Class ID C000216242 | 0.09%                | 0.72%                | -0.87%               |
| Class ID C000216243 | 0.00%                | 0.73%                | -0.98%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-143009.93              | $-82603.91                                 |
| Month 2  | $-443807.72              | $1532496.06                                |
| Month 3  | $3352348.21              | $-6863505.20                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ATI Inc                           | ATI INC             | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |     33400 | NS      | $3832984.00   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corporation        | LNT 3 7/8 03/15/26  | CUSIP: 018802AC2<br>LEI: 5493009ML300G373MZ12 | Long             | DBT              | CORP              | US        |   6930000 | PA      | $7200270.00   | 3.43%             | 2026-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                     | ALPHABET INC-A      | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      6500 | NS      | $2034500.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Capital Corp       | AWK 3 5/8 06/15/26  | CUSIP: 03040WBE4<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |   8110000 | PA      | $8075938.00   | 3.84%             | 2026-06-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Apollo Global Management Inc      | APO 6 3/4           | CUSIP: 03769M304<br>LEI: 254900LMFT1CY9IYB476 | Long             | EP               | CORP              | US        |     27100 | NS      | $2046592.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corporation       | ARES 6 3/4          | CUSIP: 03990B309<br>LEI: 529900JUV61FH7B8VW38 | Long             | EP               | CORP              | US        |    158000 | NS      | $7963200.00   | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.             | BAC 7 1/4 PERP      | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |      8048 | NS      | $10076096.00  | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corporation              | CARNIVAL CORP       | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |    138600 | NS      | $4232844.00   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc      | CITIZENS FINANCI    | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     45100 | NS      | $2634291.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                       | DDOG 0 12/01/29     | CUSIP: 23804LAD5<br>LEI: 549300F6JNO0KRPO1K63 | Long             | DBT              | CORP              | US        |   2150000 | PA      | $2144625.00   | 1.02%             | 2029-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Digital Realty Trust, L.P.        | DLR 1 7/8 11/15/29  | CUSIP: 25389JAX4<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              | CORP              | US        |   8459000 | PA      | $8577426.00   | 4.08%             | 2029-11-15      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| DraftKings Inc.                   | DKNG 0 03/15/28     | CUSIP: 26142RAB0<br>LEI: 2549006G33IUL6IVOD83 | Long             | DBT              | CORP              | US        |   5780000 | PA      | $5280030.00   | 2.51%             | 2028-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Etsy Inc                          | ETSY 0 1/4 06/15/28 | CUSIP: 29786AAN6<br>LEI: 54930089Q7XT501AEA40 | Long             | DBT              | CORP              | US        |   8040000 | PA      | $7171680.00   | 3.41%             | 2028-06-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| First American Funds Inc.         | FIRST AM-TR OB-X    | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   6977785 | PA      | $6977785.29   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Company                | F 0 03/15/26        | CUSIP: 345370CZ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   5200000 | PA      | $5400200.00   | 2.57%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Global Payments Inc               | GPN 1 1/2 03/01/31  | CUSIP: 37940XAU6<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |  10637000 | PA      | $9541389.00   | 4.54%             | 2031-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Halozyme Therapeutics Inc         | HALO 0 1/4 03/01/27 | CUSIP: 40637HAD1<br>LEI: 529900242I3SV9AGM753 | Long             | DBT              | CORP              | US        |   2440000 | PA      | $2629100.00   | 1.25%             | 2027-03-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.    | HPE 7 5/8           | CUSIP: 42824C208<br>LEI: 549300BX44RGX6ANDV88 | Long             | EP               | CORP              | US        |     89440 | NS      | $5964753.60   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                           | ITT INC             | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |     20000 | NS      | $3470200.00   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc.                     | KKR 6 1/4           | CUSIP: 48251W500<br>LEI: 54930013V5I303TF9571 | Long             | EP               | CORP              | US        |    150400 | NS      | $7796736.00   | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group, L.P.           | KRG 0 3/4 04/01/27  | CUSIP: 49803XAB9<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |   6350000 | PA      | $6679565.00   | 3.18%             | 2027-04-01      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| Meritage Homes Corp               | MTH 1 3/4 05/15/28  | CUSIP: 59001ABF8<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |   7542000 | PA      | $7417525.47   | 3.53%             | 2028-05-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Microchip Technology Incorporated | MCHP 7 1/2          | CUSIP: 595017302<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EP               | CORP              | US        |     89600 | NS      | $5221888.00   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Moog Inc.                         | MOOG INC-CLASS A    | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |     14900 | NS      | $3628895.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                | NEE 7.234           | CUSIP: 65339F119<br>LEI: 254900RHL9MEUS5NKX63 | Long             | DBT              | CORP              | US        |    190800 | NS      | $9301500.00   | 4.43%             | 2027-11-01      | Fixed         | 7.23%                 | No            |                  1 | On Loan: No      |
| Okta Inc.                         | OKTA 0 3/8 06/15/26 | CUSIP: 679295AF2<br>LEI: 549300N8J06I8MRHU620 | Long             | DBT              | CORP              | US        |   4032000 | PA      | $3935232.00   | 1.87%             | 2026-06-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| ON Semiconductor Corp.            | ON 0 1/2 03/01/29   | CUSIP: 682189AU9<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |   9952000 | PA      | $9414592.00   | 4.48%             | 2029-03-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| PPL Capital Funding Inc.          | PPL 2 7/8 03/15/28  | CUSIP: 69352PAS2<br>LEI: 549300MROK5WY0D2NU17 | Long             | DBT              | CORP              | US        |   7190000 | PA      | $7891025.00   | 3.76%             | 2028-03-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| PROS Holdings Inc.                | PRO 2 1/4 09/15/27  | CUSIP: 74346YAG8<br>LEI: 549300LPE1KNL5RWKQ48 | Long             | DBT              | CORP              | US        |   2211000 | PA      | $2206578.00   | 1.05%             | 2027-09-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Shift4 Payments Inc               | FOUR 0 1/2 08/01/27 | CUSIP: 82452JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4286000 | PA      | $4118846.00   | 1.96%             | 2027-08-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Transdigm Group Inc.              | TRANSDIGM GROUP     | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2400 | NS      | $3191640.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc             | UBER 0 7/8 12/01/28 | CUSIP: 90353TAM2<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   6089000 | PA      | $7897433.00   | 3.76%             | 2028-12-01      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Ventas Realty Limited Partnership | VTR 3 3/4 06/01/26  | CUSIP: 92277GAZ0<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |   6310000 | PA      | $8909720.00   | 4.24%             | 2026-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                 | WFC 7 1/2 PERP      | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |      8200 | NS      | $9938400.00   | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc.                    | WELLTOWER INC       | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     21000 | NS      | $3897810.00   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                     | MEDTRONIC PLC       | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     30400 | NS      | $2920224.00   | 1.39%             |  |  |  | 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