# EDGAR Filing Document

**Accession Number:** 0000743773
**File Stem:** 0001410368-25-032329
**Filing Date:** 2025-11
**Character Count:** 64556
**Document Hash:** b9aa31626ef99bc805fa51f36efec86a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-032329.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-032329

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Calvert Variable Trust, Inc.
- **CENTRAL INDEX KEY:** 0000743773

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04000
- **FILM NUMBER:** 251528492

**BUSINESS ADDRESS:**
- **STREET 1:** 2050 M STREET NW
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20036
- **BUSINESS PHONE:** 8002256265

**MAIL ADDRESS:**
- **STREET 1:** 2050 M STREET NW
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20036

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Calvert Variable Products, Inc.
- **DATE OF NAME CHANGE:** 20100429

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUMMIT MUTUAL FUNDS, INC.
- **DATE OF NAME CHANGE:** 20090122

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUMMIT MUTUAL FUNDS INC
- **DATE OF NAME CHANGE:** 20000323

## Series and Classes Contracts Data

### CVT NASDAQ 100 Index Portfolio (Series ID: S000010994)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000030370 | CVT NASDAQ 100 Index Portfolio           |  |
| C000164864 | CVT Nasdaq 100 Index Portfolio - Class F |  |

## Nport-Ex

CVT

Nasdaq 100 Index Portfolio

September 30, 2025

Schedule of Investments (Unaudited)

------

Common Stocks — 94.5%

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Aerospace & Defense — 0.3% | Aerospace & Defense — 0.3% |  |
| Axon Enterprise, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2618 | $1878782 |
|  |  | **$1878782** |
| Automobiles — 3.3% | Automobiles — 3.3% |  |
| Tesla, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49408 | $21972726 |
|  |  | **$21972726** |
| Beverages — 1.7% | Beverages — 1.7% |  |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15281 | $1381555 |
| Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45305 | &nbsp;&nbsp; 1155731 |
| Monster Beverage Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;32565 | &nbsp;&nbsp;&nbsp;&nbsp;2191950 |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45660 | &nbsp;&nbsp;&nbsp;&nbsp;6412490 |
|  |  | **$11141726** |
| Biotechnology — 2.4% | Biotechnology — 2.4% |  |
| Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17955 | &nbsp;&nbsp;&nbsp;$5066901 |
| Biogen, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684991 |
| Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41382 | &nbsp;&nbsp;&nbsp;&nbsp;4593402 |
| Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3477 | &nbsp;&nbsp;&nbsp;&nbsp;1955013 |
| Vertex Pharmaceuticals, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8551 | &nbsp;&nbsp;&nbsp;&nbsp;3348914 |
|  |  | **$15649221** |
| Broadline Retail — 5.9% | Broadline Retail — 5.9% |  |
| Amazon.com, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;144573 | &nbsp;&nbsp;$31743894 |
| MercadoLibre, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1691 | &nbsp;&nbsp;&nbsp;&nbsp;3951765 |
| PDD Holdings, Inc. ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;22276 | &nbsp;&nbsp;&nbsp;&nbsp;2944219 |
|  |  | **$38639878** |
| Chemicals — 1.1% | Chemicals — 1.1% |  |
| Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;15639 | &nbsp;&nbsp;&nbsp;$7428525 |
|  |  | &nbsp;&nbsp;&nbsp;**$7428525** |
| Commercial Services & Supplies — 0.6% | Commercial Services & Supplies — 0.6% |  |
| Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13440 | &nbsp;&nbsp;&nbsp;$2758694 |
| Copart, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;32248 | &nbsp;&nbsp;&nbsp;&nbsp;1450193 |
|  |  | &nbsp;&nbsp;&nbsp;**$4208887** |
| Communications Equipment — 1.4% | Communications Equipment — 1.4% |  |
| Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;132070 | &nbsp;&nbsp;&nbsp;$9036229 |
|  |  | &nbsp;&nbsp;&nbsp;**$9036229** |
| Consumer Staples Distribution & Retail — 2.1% | Consumer Staples Distribution & Retail — 2.1% |  |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14790 | &nbsp;&nbsp;$13690068 |
|  |  | **$13690068** |
| Electric Utilities — 1.3% | Electric Utilities — 1.3% |  |
| American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17836 | &nbsp;&nbsp;&nbsp;$2006550 |
| Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10419 | &nbsp;&nbsp;&nbsp;&nbsp;3428580 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Electric Utilities (continued) | Electric Utilities (continued) |  |
| Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33684 | $1516117 |
| Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19725 | &nbsp;&nbsp; 1590821 |
|  |  | **$8542068** |
| Electronic Equipment, Instruments & Components — 0.1% | Electronic Equipment, Instruments & Components — 0.1% |  |
| CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4371 | $696213 |
|  |  | **$696213** |
| Energy Equipment & Services — 0.2% | Energy Equipment & Services — 0.2% |  |
| Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32880 | $1601914 |
|  |  | &nbsp;&nbsp;&nbsp;**$1601914** |
| Entertainment — 3.3% | Entertainment — 3.3% |  |
| Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8345 | &nbsp;&nbsp;&nbsp;$1683187 |
| Netflix, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;14172 | &nbsp;&nbsp;&nbsp;&nbsp;16991094 |
| Take-Two Interactive Software, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6152 | &nbsp;&nbsp;&nbsp;&nbsp;1589431 |
| Warner Bros. Discovery, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;82570 | &nbsp;&nbsp;&nbsp;&nbsp;1612592 |
|  |  | **$21876304** |
| Financial Services — 0.3% | Financial Services — 0.3% |  |
| PayPal Holdings, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;31859 | &nbsp;&nbsp;&nbsp;$2136465 |
|  |  | &nbsp;&nbsp;&nbsp;**$2136465** |
| Food Products — 0.6% | Food Products — 0.6% |  |
| Kraft Heinz Co. | &nbsp;&nbsp;&nbsp;&nbsp;39474 | &nbsp;&nbsp;&nbsp;$1027903 |
| Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;43154 | &nbsp;&nbsp;&nbsp;&nbsp;2695830 |
|  |  | &nbsp;&nbsp;&nbsp;**$3723733** |
| Ground Transportation — 0.5% | Ground Transportation — 0.5% |  |
| CSX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62176 | &nbsp;&nbsp;&nbsp;$2207870 |
| Old Dominion Freight Line, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986727 |
|  |  | &nbsp;&nbsp;&nbsp;**$3194597** |
| Health Care Equipment & Supplies — 1.4% | Health Care Equipment & Supplies — 1.4% |  |
| DexCom, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;13079 | &nbsp;&nbsp;&nbsp;&nbsp;$880086 |
| GE HealthCare Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15227 | &nbsp;&nbsp;&nbsp;&nbsp;1143548 |
| IDEXX Laboratories, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2668 | &nbsp;&nbsp;&nbsp;&nbsp;1704558 |
| Intuitive Surgical, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;11956 | &nbsp;&nbsp;&nbsp;&nbsp;5347082 |
|  |  | &nbsp;&nbsp;&nbsp;**$9075274** |
| Hotels, Restaurants & Leisure — 2.5% | Hotels, Restaurants & Leisure — 2.5% |  |
| Airbnb, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;14310 | &nbsp;&nbsp;&nbsp;$1737520 |
| Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp;5836611 |
| DoorDash, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;13419 | &nbsp;&nbsp;&nbsp;&nbsp;3649834 |
| Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9053 | &nbsp;&nbsp;&nbsp;&nbsp;2357763 |
| Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37910 | &nbsp;&nbsp;&nbsp;&nbsp;3207186 |
|  |  | **$16788914** |

---

------

CVT

Nasdaq 100 Index Portfolio

September 30, 2025

Schedule of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Industrial Conglomerates — 0.7% | Industrial Conglomerates — 0.7% |  |
| Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21174 | $4457127 |
|  |  | **$4457127** |
| Interactive Media & Services — 8.9% | Interactive Media & Services — 8.9% |  |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78855 | $19169650 |
| Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73609 | &nbsp;&nbsp; 17927472 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29402 | &nbsp;&nbsp; 21592241 |
|  |  | **$58689363** |
| IT Services — 1.1% | IT Services — 1.1% |  |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;16289 | &nbsp;&nbsp;&nbsp;$1092503 |
| Shopify, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;40702 | &nbsp;&nbsp;&nbsp;&nbsp;6048724 |
|  |  | &nbsp;&nbsp;&nbsp;**$7141227** |
| Machinery — 0.2% | Machinery — 0.2% |  |
| PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17513 | &nbsp;&nbsp;&nbsp;$1721878 |
|  |  | &nbsp;&nbsp;&nbsp;**$1721878** |
| Media — 0.9% | Media — 0.9% |  |
| Charter Communications, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4555 | &nbsp;&nbsp;&nbsp;$1253103 |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;122824 | &nbsp;&nbsp;&nbsp;&nbsp;3859130 |
| Trade Desk, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;14863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728436 |
|  |  | &nbsp;&nbsp;&nbsp;**$5840669** |
| Oil, Gas & Consumable Fuels — 0.2% | Oil, Gas & Consumable Fuels — 0.2% |  |
| Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9655 | &nbsp;&nbsp;&nbsp;$1381631 |
|  |  | &nbsp;&nbsp;&nbsp;**$1381631** |
| Pharmaceuticals — 0.2% | Pharmaceuticals — 0.2% |  |
| AstraZeneca PLC ADR | &nbsp;&nbsp;&nbsp;&nbsp;19592 | &nbsp;&nbsp;&nbsp;$1503098 |
|  |  | &nbsp;&nbsp;&nbsp;**$1503098** |
| Professional Services — 1.4% | Professional Services — 1.4% |  |
| Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13509 | &nbsp;&nbsp;&nbsp;$3964891 |
| Paychex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11993 | &nbsp;&nbsp;&nbsp;&nbsp;1520233 |
| Thomson Reuters Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15031 | &nbsp;&nbsp;&nbsp;&nbsp;2334765 |
| Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4660 | &nbsp;&nbsp;&nbsp;&nbsp;1172037 |
|  |  | &nbsp;&nbsp;&nbsp;**$8991926** |
| Real Estate Management & Development — 0.2% | Real Estate Management & Development — 0.2% |  |
| CoStar Group, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;14129 | &nbsp;&nbsp;&nbsp;$1192064 |
|  |  | &nbsp;&nbsp;&nbsp;**$1192064** |
| Semiconductors & Semiconductor Equipment — 24.0% | Semiconductors & Semiconductor Equipment — 24.0% |  |
| Advanced Micro Devices, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;54124 | &nbsp;&nbsp;&nbsp;$8756722 |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16407 | &nbsp;&nbsp;&nbsp;&nbsp;4031200 |
| Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26569 | &nbsp;&nbsp;&nbsp;&nbsp;5439737 |
| ARM Holdings PLC ADR<sup>(1)(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644487 |
| ASML Holding NV-NY Shares<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2826 | &nbsp;&nbsp;&nbsp;&nbsp;2735822 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Semiconductors & Semiconductor Equipment (continued) | Semiconductors & Semiconductor Equipment (continued) |  |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;105453 | $34789999 |
| GlobalFoundries, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18509 | &nbsp;&nbsp; 663362 |
| Intel Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;145978 | &nbsp;&nbsp; 4897562 |
| KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4401 | &nbsp;&nbsp; 4746919 |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42210 | &nbsp;&nbsp; 5651919 |
| Marvell Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28752 | &nbsp;&nbsp; 2417181 |
| Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17999 | &nbsp;&nbsp; 1155896 |
| Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37324 | &nbsp;&nbsp; 6245052 |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;329409 | &nbsp;&nbsp;&nbsp;&nbsp;61461131 |
| NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8408 | &nbsp;&nbsp;&nbsp;&nbsp;1914754 |
| ON Semiconductor Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;13690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675054 |
| QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35970 | &nbsp;&nbsp;&nbsp;&nbsp;5983969 |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30321 | &nbsp;&nbsp;&nbsp;&nbsp;5570877 |
|  |  | **$157781643** |
| Software — 17.4% | Software — 17.4% |  |
| Adobe, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;14148 | &nbsp;&nbsp;&nbsp;$4990707 |
| AppLovin Corp., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;10260 | &nbsp;&nbsp;&nbsp;&nbsp;7372220 |
| Atlassian Corp., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885696 |
| Autodesk, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7137 | &nbsp;&nbsp;&nbsp;&nbsp;2267211 |
| Cadence Design Systems, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9088 | &nbsp;&nbsp;&nbsp;&nbsp;3192251 |
| CrowdStrike Holdings, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8370 | &nbsp;&nbsp;&nbsp;&nbsp;4104481 |
| Datadog, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;10781 | &nbsp;&nbsp;&nbsp;&nbsp;1535214 |
| Fortinet, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;25556 | &nbsp;&nbsp;&nbsp;&nbsp;2148748 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9303 | &nbsp;&nbsp;&nbsp;&nbsp;6353112 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;100763 | &nbsp;&nbsp;&nbsp;&nbsp;52190196 |
| Palantir Technologies, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;75849 | &nbsp;&nbsp;&nbsp;&nbsp;13836375 |
| Palo Alto Networks, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;22309 | &nbsp;&nbsp;&nbsp;&nbsp;4542559 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3589 | &nbsp;&nbsp;&nbsp;&nbsp;1789798 |
| Strategy, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8802 | &nbsp;&nbsp;&nbsp;&nbsp;2836092 |
| Synopsys, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6171 | &nbsp;&nbsp;&nbsp;&nbsp;3044710 |
| Workday, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7237 | &nbsp;&nbsp;&nbsp;&nbsp;1742163 |
| Zscaler, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5193 | &nbsp;&nbsp;&nbsp;&nbsp;1556134 |
|  |  | **$114387667** |
| Specialty Retail — 0.7% | Specialty Retail — 0.7% |  |
| O'Reilly Automotive, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;28298 | &nbsp;&nbsp;&nbsp;$3050807 |
| Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10908 | &nbsp;&nbsp;&nbsp;&nbsp;1662270 |
|  |  | &nbsp;&nbsp;&nbsp;**$4713077** |
| Technology Hardware, Storage & Peripherals — 7.8% | Technology Hardware, Storage & Peripherals — 7.8% |  |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;201175 | &nbsp;&nbsp;$51225190 |
|  |  | **$51225190** |
| Textiles, Apparel & Luxury Goods — 0.1% | Textiles, Apparel & Luxury Goods — 0.1% |  |
| lululemon Athletica, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3826 | &nbsp;&nbsp;&nbsp;&nbsp;$680760 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$680760** |

---

------

CVT

Nasdaq 100 Index Portfolio

September 30, 2025

Schedule of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Trading Companies & Distributors — 0.3% | Trading Companies & Distributors — 0.3% |  |
| Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38275 | $1877006 |
|  |  | **$1877006** |
| Wireless Telecommunication Services — 1.4% | Wireless Telecommunication Services — 1.4% |  |
| T-Mobile U.S., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37534 | $8984889 |
|  |  | **$8984889** |
| Total Common Stocks<br> (identified cost $220,699,985) |  | **$621850739** |

---

Exchange-Traded Funds — 3.5%

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Equity Funds — 3.5% | Equity Funds — 3.5% |  |
| Invesco QQQ TM Trust, Series 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38000 | $22814060 |
| Total Exchange-Traded Funds<br> (identified cost $19,278,956) |  | **$22814060** |

---

---

| | | |
|:---|:---|:---|
| Short-Term Investments — 2.0% |  |  |
| Affiliated Fund — 1.7% | Affiliated Fund — 1.7% | Affiliated Fund — 1.7% |
| **Security** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 4.05%<sup>(4)</sup> | 11237825 | $11237825 |
| Total Affiliated Fund<br> (identified cost $11,237,825) |  | **$11237825** |
| U.S. Treasury Obligations — 0.3% | U.S. Treasury Obligations — 0.3% | U.S. Treasury Obligations — 0.3% |
| **Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| U.S. Treasury Bills, 0.00%, 2/19/26<sup>(5)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | $1970817 |
| Total U.S. Treasury Obligations<br> (identified cost $1,968,823) |  | **$1970817** |
| Total Short-Term Investments<br> (identified cost $13,206,648) |  | **$13208642** |
| Total Investments — 100.0%<br> (identified cost $253,185,589) |  | **$657873441** |
| Other Assets, Less Liabilities — (0.0)%<sup>†</sup> |  | **$(19107)** |
| Net Assets — 100.0% |  | **$657854334** |

---

---

| | |
|:---|:---|
| The percentage shown for each investment category in the Schedule of Investments is based on net assets. | The percentage shown for each investment category in the Schedule of Investments is based on net assets. |
| <sup>†</sup> | Amount is less than 0.05% or (0.05)%, as applicable. |
| <sup>(1)</sup> | Non-income producing security. |
| <sup>(2)</sup> | All or a portion of this security was on loan at September 30, 2025. The aggregate market value of securities on loan at September 30, 2025 was $613,925 and the total market value of the collateral received by the Fund was $625,241, comprised of U.S. government and/or agencies securities. |
| <sup>(3)</sup> | Security exempt from registration under Regulation S of the Securities Act of 1933, as amended, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. At September 30, 2025, the aggregate value of these securities is $2,735,822 or 0.4% of the Fund's net assets. |
| <sup>(4)</sup> | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of September 30, 2025. |
| <sup>(5)</sup> | Security (or a portion thereof) has been pledged to cover margin requirements on open futures contracts. |

---

------

CVT

Nasdaq 100 Index Portfolio

September 30, 2025

Schedule of Investments (Unaudited) — continued

------

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Value/<br> Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Futures** |  |  |  |  |  |
| E-mini NASDAQ-100<sup>®</sup> Index | &nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;$12948910 | &nbsp;&nbsp;&nbsp;&nbsp;$209344 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$209344** |

---

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| ADR | – American Depositary Receipt |

---

At September 30, 2025, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.

During the fiscal year to date ended September 30, 2025, the Fund used futures contracts to provide equity market exposure for uncommitted cash balances.

Affiliated Investments

At September 30, 2025, the value of the Fund's investment in funds that may be deemed to be affiliated was $11,237,825, which represents 1.7% of the Fund's net assets. Transactions in such investments by the Fund for the fiscal year to date ended September 30, 2025 were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Value,<br> beginning<br> of period** | **Purchases** | **Sales<br> proceeds** | **Net<br> realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Value,<br> end of<br> period** | **Dividend<br> income** | **Shares,<br> end of<br> period** |
| **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** |  |  |  |  |  |  |
| Liquidity Fund, Institutional Class<sup>(1)</sup> | $6941586 | $81677084 | $(77380845) | $— | $— | $11237825 | $370235 | 11237825 |

---

<sup>(1)</sup> Represents investment in Morgan Stanley Institutional Liquidity Funds - Government Portfolio.

Fair Value Measurements

U.S. generally accepted accounting principles (U.S. GAAP) establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

Level 1 - quoted prices in active markets for identical securities

Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following table summarizes the market value of the Fund's holdings as of September 30, 2025, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| Common Stocks | &nbsp;&nbsp;$621850739<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$621850739 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22814060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22814060 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11237825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11237825 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;1970817 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1970817 |
| **Total Investments** | &nbsp;&nbsp;**$655902624** | &nbsp;&nbsp;**$1970817** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$657873441** |

---

------

CVT

Nasdaq 100 Index Portfolio

September 30, 2025

Schedule of Investments (Unaudited) — continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description (continued)** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$209344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$209344 |
| **Total** | &nbsp;&nbsp;**$656111968** | &nbsp;&nbsp;**$1970817** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$658082785** |

---

<sup>(1)</sup> The level classification by major category of investments is the same as the category presentation in the Schedule of Investments.

For information on the Fund's policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent annual or semi-annual financial statements.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Calvert Variable Trust, Inc.

- **b. Investment Company Act file number:** 811-04000

- **c. CIK number of Registrant:** 0000743773

- **d. LEI of Registrant:** 549300PDAQJMP5ONK782

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

  - **Street Address 1:** 2050 M Street NW

  - **City:** Washington

  - **State:** DC

  - **Foreign country:** US

  - **Zip / Postal Code:** 20036

  - **Telephone number:** 202-238-2200

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

- **a. Name of Series:** CVT Nasdaq-100 Index Portfolio

- **b. EDGAR series identifier (if any):** S000010994

- **c. LEI of Series:** 549300C0XR2NI0S1IB09

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $658159403.65

**Total Liabilities:** $481423.04

**Net Assets:** $657677980.61

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000030370 | 2.37%                | 0.88%                | 5.41%                |
| Class ID C000164864 | 2.35%                | 0.86%                | 5.39%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $320738.71               | $13375088.62                               |
| Month 2  | $592.31                  | $5022610.25                                |
| Month 3  | $2426.47                 | $32463536.80                               |

**Designated Index Information**

- **Index Name:** Nasdaq 100 Index

- **Index Identifier:** NASDAQM

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Honeywell International Inc         | Honeywell International Inc                                         | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     21174 | NS      | $4457127.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                   | Cisco Systems Inc                                                   | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    132070 | NS      | $9036229.40   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                          | Intuit Inc                                                          | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      9303 | NS      | $6353111.73   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc           | Warner Bros Discovery Inc                                           | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |     82570 | NS      | $1612592.10   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co Inc      | American Electric Power Co Inc                                      | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     17836 | NS      | $2006550.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corp                      | Atlassian Corp                                                      | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |      5546 | NS      | $885696.20    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc          | Vertex Pharmaceuticals Inc                                          | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      8551 | NS      | $3348913.64   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc          | Mondelez International Inc                                          | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     43154 | NS      | $2695830.38   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings Inc                    | PDD Holdings Inc                                                    | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |     22276 | NS      | $2944218.92   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBALFOUNDRIES Inc                 | GLOBALFOUNDRIES Inc                                                 | CUSIP: 000000000<br>LEI: 549300BA76VK784VMX48 | Long             | EC               | CORP              | KY        |     18509 | NS      | $663362.56    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                         | Paychex Inc                                                         | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     11993 | NS      | $1520232.68   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler Inc                         | Zscaler Inc                                                         | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |      5193 | NS      | $1556134.38   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury              | U.S. Treasury Bills                                                 | CUSIP: 912797PM3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   2000000 | PA      | $1970816.42   | 0.30%             | 2026-02-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Costco Wholesale Corp               | Costco Wholesale Corp                                               | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     14790 | NS      | $13690067.70  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp | Cognizant Technology Solutions Corp                                 | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     16289 | NS      | $1092503.23   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc               | Micron Technology Inc                                               | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     37324 | NS      | $6245051.68   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                     | Xcel Energy Inc                                                     | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     19725 | NS      | $1590821.25   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                        | Comcast Corp                                                        | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    122824 | NS      | $3859130.08   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International Inc/MD       | Marriott International Inc/MD                                       | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      9053 | NS      | $2357763.32   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                         | Exelon Corp                                                         | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     33684 | NS      | $1516116.84   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                         | Cintas Corp                                                         | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13440 | NS      | $2758694.40   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc          | Advanced Micro Devices Inc                                          | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     54124 | NS      | $8756721.96   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                         | PepsiCo Inc                                                         | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     45660 | NS      | $6412490.40   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc               | Texas Instruments Inc                                               | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     30321 | NS      | $5570877.33   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc                 | PayPal Holdings Inc                                                 | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     31859 | NS      | $2136464.54   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                        | Alphabet Inc                                                        | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     78855 | NS      | $19169650.50  | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc            | Microchip Technology Inc                                            | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     17999 | NS      | $1155895.78   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                     | ASML Holding NV                                                     | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      2826 | NS      | $2735822.34   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                   | Lam Research Corp                                                   | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     42210 | NS      | $5651919.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                     | Baker Hughes Co                                                     | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32880 | NS      | $1601913.60   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV               | NXP Semiconductors NV                                               | CUSIP: 000000000<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |      8408 | NS      | $1914753.84   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                          | Biogen Inc                                                          | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |      4890 | NS      | $684991.20    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Thomson Reuters Corp                | Thomson Reuters Corp                                                | CUSIP: 884903808<br>LEI: 549300561UZND4C7B569 | Long             | EC               | CORP              | CA        |     15031 | NS      | $2334765.23   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc       | Old Dominion Freight Line Inc                                       | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |      7009 | NS      | $986727.02    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                         | Workday Inc                                                         | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      7237 | NS      | $1742163.01   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                         | CDW Corp/DE                                                         | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |      4371 | NS      | $696212.88    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                      | Microsoft Corp                                                      | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    100763 | NS      | $52190195.85  | 7.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                 | Axon Enterprise Inc                                                 | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      2618 | NS      | $1878781.52   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc               | Applied Materials Inc                                               | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     26569 | NS      | $5439737.06   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Trade Desk Inc/The                  | Trade Desk Inc/The                                                  | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |     14863 | NS      | $728435.63    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp           | Constellation Energy Corp                                           | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     10419 | NS      | $3428580.33   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange         | NASDAQ 100 E-MINI DEC25                                             | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |        26 | NC      | $209344.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                         | NVIDIA Corp                                                         | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    329409 | NS      | $61461131.22  | 9.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                           | Adobe Inc                                                           | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     14148 | NS      | $4990707.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software Inc   | Take-Two Interactive Software Inc                                   | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      6152 | NS      | $1589430.72   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ARM Holdings PLC                    | ARM Holdings PLC                                                    | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Long             | EC               | CORP              | GB        |      4555 | NS      | $644486.95    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Alphabet Inc                        | Alphabet Inc                                                        | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     73609 | NS      | $17927471.95  | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                     | AstraZeneca PLC                                                     | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     19592 | NS      | $1503098.24   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust Series 1          | Invesco QQQ Trust Series 1                                          | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | RF                | US        |     38000 | NS      | $22814060.00  | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc             | O'Reilly Automotive Inc                                             | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |     28298 | NS      | $3050807.38   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                           | Linde PLC                                                           | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |     15639 | NS      | $7428525.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                        | Fortinet Inc                                                        | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |     25556 | NS      | $2148748.48   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                          | Airbnb Inc                                                          | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |     14310 | NS      | $1737520.20   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                          | PACCAR Inc                                                          | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     17513 | NS      | $1721878.16   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc           | Palantir Technologies Inc                                           | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     75849 | NS      | $13836374.58  | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc              | Marvell Technology Inc                                              | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28752 | NS      | $2417180.64   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                    | CoStar Group Inc                                                    | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |     14129 | NS      | $1192063.73   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp               | Monster Beverage Corp                                               | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |     32565 | NS      | $2191950.15   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                        | DoorDash Inc                                                        | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |     13419 | NS      | $3649833.81   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                         | Netflix Inc                                                         | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     14172 | NS      | $16991094.24  | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc          | Cadence Design Systems Inc                                          | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      9088 | NS      | $3192250.88   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc              | Intuitive Surgical Inc                                              | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     11956 | NS      | $5347081.88   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                        | Broadcom Inc                                                        | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    105453 | NS      | $34789999.23  | 5.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                           | Amgen Inc                                                           | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     17955 | NS      | $5066901.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                           | Tesla Inc                                                           | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     49408 | NS      | $21972725.76  | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                          | Intel Corp                                                          | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |    145978 | NS      | $4897561.90   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc      | GE HealthCare Technologies Inc                                      | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |     15227 | NS      | $1143547.70   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                            | CSX Corp                                                            | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |     62176 | NS      | $2207869.76   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                          | Dexcom Inc                                                          | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     13079 | NS      | $880085.91    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc                  | Analog Devices Inc                                                  | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     16407 | NS      | $4031199.90   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                  | Meta Platforms Inc                                                  | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     29402 | NS      | $21592240.76  | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                     | Ross Stores Inc                                                     | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |     10908 | NS      | $1662270.12   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc             | Lululemon Athletica Inc                                             | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |      3826 | NS      | $680760.18    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                        | Autodesk Inc                                                        | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      7137 | NS      | $2267210.79   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc            | Crowdstrike Holdings Inc                                            | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      8370 | NS      | $4104480.60   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC            | Morgan Stanley Institutional Liquidity Funds - Government Portfolio | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |  11237825 | NS      | $11237825.23  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategy Inc                        | Strategy Inc                                                        | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      8802 | NS      | $2836092.42   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc              | Roper Technologies Inc                                              | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |      3589 | NS      | $1789798.41   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc              | Palo Alto Networks Inc                                              | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |     22309 | NS      | $4542558.58   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp                      | Starbucks Corp                                                      | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     37910 | NS      | $3207186.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                         | Datadog Inc                                                         | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |     10781 | NS      | $1535214.40   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                        | QUALCOMM Inc                                                        | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     35970 | NS      | $5983969.20   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                         | Shopify Inc                                                         | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |     40702 | NS      | $6048724.22   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp               | ON Semiconductor Corp                                               | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |     13690 | NS      | $675053.90    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                            | KLA Corp                                                            | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      4401 | NS      | $4746918.60   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                          | Copart Inc                                                          | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     32248 | NS      | $1450192.56   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc              | Diamondback Energy Inc                                              | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      9655 | NS      | $1381630.50   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc                 | Electronic Arts Inc                                                 | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      8345 | NS      | $1683186.50   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc                | Verisk Analytics Inc                                                | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      4660 | NS      | $1172036.60   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                        | Synopsys Inc                                                        | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      6171 | NS      | $3044709.69   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                           | Apple Inc                                                           | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    201175 | NS      | $51225190.25  | 7.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc       | Regeneron Pharmaceuticals Inc                                       | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      3477 | NS      | $1955012.79   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                       | AppLovin Corp                                                       | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |     10260 | NS      | $7372220.40   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing Inc       | Automatic Data Processing Inc                                       | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |     13509 | NS      | $3964891.50   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                    | MercadoLibre Inc                                                    | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      1691 | NS      | $3951765.54   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                     | T-Mobile US Inc                                                     | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     37534 | NS      | $8984888.92   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc          | Charter Communications Inc                                          | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |      4555 | NS      | $1253103.28   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The                  | Kraft Heinz Co/The                                                  | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     39474 | NS      | $1027902.96   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                | Booking Holdings Inc                                                | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      1081 | NS      | $5836610.87   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners PLC  | Coca-Cola Europacific Partners PLC                                  | CUSIP: 000000000<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |     15281 | NS      | $1381555.21   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                | Keurig Dr Pepper Inc                                                | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     45305 | NS      | $1155730.55   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                      | Amazon.com Inc                                                      | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    144573 | NS      | $31743893.61  | 4.83%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc              | IDEXX Laboratories Inc                                              | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      2668 | NS      | $1704558.52   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co                         | Fastenal Co                                                         | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     38275 | NS      | $1877006.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc                 | Gilead Sciences Inc                                                 | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     41382 | NS      | $4593402.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-29

**Name of Applicant:** Calvert Variable Trust, Inc.

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer