Virtus Variable Insurance Trust NPORT-P Virtus Rampart Enhanced Core Equity Series (Sep 2019 report)

RAMPART ENHANCED CORE EQUITY SERIES

SCHEDULE OF INVESTMENTS (Unaudited)

SEPTEMBER 30, 2019

($ reported in thousands)

	Shares		Value
COMMON STOCKS—96.4%
Communication Services—10.4%
Activision Blizzard, Inc.		3,508	$	186
Alphabet, Inc. Class A(1)(2)		1,110		1,355
Alphabet, Inc. Class C(1)(2)		1,136		1,385
AT&T, Inc.(2)		25,985		983
CBS Corp. Class B		1,663		67
CenturyLink, Inc.		4,522		56
Charter Communications, Inc. Class A(1)		683		282
Comcast Corp. Class A(2)		16,450		742
Discovery, Inc. Class A(1)		745		20
Discovery, Inc. Class C(1)		1,703		42
DISH Network Corp. Class A(1)		1,128		38
Electronic Arts, Inc.(1)		1,397		137
Facebook, Inc. Class A(1)(2)		9,040		1,610
Fox Corp. Class A(2)		1,665		53
Fox Corp. Class B(2)		764		24
Interpublic Group of Cos., Inc. (The)		1,829		39
Netflix, Inc.(1)		1,587		425
News Corp. Class A		1,819		25
News Corp. Class B		583		8
Omnicom Group, Inc.		1,040		81
Take-Two Interactive Software, Inc.(1)		531		67
T-Mobile US, Inc.(1)		1,189		94
TripAdvisor, Inc.(1)		492		19
Twitter, Inc.(1)		3,433		141
Verizon Communications, Inc.(2)		14,672		886
Viacom, Inc. Class B		1,669		40
Walt Disney Co. (The)(2)		6,264		816
				9,621
Consumer Discretionary—10.2%
Advance Auto Parts, Inc.		273		45
Amazon.com, Inc.(1)(2)		1,520		2,639
Aptiv plc		990		87
AutoZone, Inc.(1)		94		102
Best Buy Co., Inc.		887		61
Booking Holdings, Inc.(1)(2)		165		324
BorgWarner, Inc.		797		29
Capri Holdings Ltd.(1)		577		19
CarMax, Inc.(1)		640		56
Carnival Corp.		1,567		69
Chipotle Mexican Grill, Inc.(1)		93		78
Darden Restaurants, Inc.		468		55
Dollar General Corp.		988		157
Dollar Tree, Inc.(1)		907		104
eBay, Inc.		3,143		123
Expedia Group, Inc.		529		71
Ford Motor Co.(2)		14,965		137
Gap, Inc. (The)		815		14
Garmin Ltd.		459		39
General Motors Co.(2)		5,148		193
Genuine Parts Co.		557		55
H&R Block, Inc.		778		18
Hanesbrands, Inc.		1,381		21
Harley-Davidson, Inc.		616		22
Hasbro, Inc.		442		52
Hilton Worldwide Holdings, Inc.		1,119		104
Home Depot, Inc. (The)(2)		4,188		972
Horton (D.R.), Inc.		1,289		68
Kohl’s Corp.		621		31
L Brands, Inc.		872		17
Leggett & Platt, Inc.		503		21

	Shares		Value
Consumer Discretionary—continued
Lennar Corp. Class A		1,083	$	60
LKQ Corp.(1)		1,204		38
Lowe’s Cos., Inc.(2)		2,983		328
Macy’s, Inc.		1,167		18
Marriott International, Inc. Class A		1,066		133
McDonald’s Corp.(2)		2,908		624
MGM Resorts International		1,953		54
Mohawk Industries, Inc.(1)		233		29
Newell Brands, Inc.		1,498		28
NIKE, Inc. Class B(2)		4,777		449
Nordstrom, Inc.		401		14
Norwegian Cruise Line Holdings Ltd.(1)		829		43
O’Reilly Automotive, Inc.(1)		297		118
PulteGroup, Inc.		969		35
PVH Corp.		287		25
Ralph Lauren Corp.		198		19
Ross Stores, Inc.		1,406		154
Royal Caribbean Cruises Ltd.		669		72
Starbucks Corp.(2)		4,638		410
Tapestry, Inc.		1,095		29
Target Corp.(2)		1,955		209
Tiffany & Co.		413		38
TJX Cos., Inc. (The)		4,693		262
Tractor Supply Co.		460		42
Ulta Beauty, Inc.(1)		211		53
Under Armour, Inc. Class A(1)		715		14
Under Armour, Inc. Class C(1)		739		13
VF Corp.		1,242		111
Whirlpool Corp.		242		38
Wynn Resorts Ltd.		374		41
Yum! Brands, Inc.		1,168		133
				9,417
Consumer Staples—7.6%
Altria Group, Inc.(2)		6,948		284
Archer-Daniels-Midland Co.		2,147		88
Brown-Forman Corp. Class B		637		40
Campbell Soup Co.		737		35
Church & Dwight Co., Inc.		939		71
Clorox Co. (The)		490		74
Coca-Cola Co. (The)(2)		14,394		784
Colgate-Palmolive Co.(2)		3,290		242
Conagra Brands, Inc.		1,838		56
Constellation Brands, Inc. Class A		636		132
Costco Wholesale Corp.(2)		1,607		463
Coty, Inc. Class A		1,148		12
Estee Lauder Cos., Inc. (The) Class A		835		166
General Mills, Inc.		2,283		126
Hershey Co. (The)		532		82
Hormel Foods Corp.		1,037		45
J.M. Smucker Co. (The)		433		48
Kellogg Co.		948		61
Kimberly-Clark Corp.		1,316		187
Kraft Heinz Co.(The)(2)		2,366		66
Kroger Co. (The)		3,087		80
Lamb Weston Holdings, Inc.		554		40
McCormick & Co., Inc.		468		73
Molson Coors Brewing Co. Class B		717		41
Mondelez International, Inc. Class A(2)		5,418		300
Monster Beverage Corp.(1)		1,493		87
PepsiCo, Inc.(2)		5,262		721
Philip Morris International, Inc.(2)		5,690		432

See Notes to Schedule of Investments.

1

RAMPART ENHANCED CORE EQUITY SERIES

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

SEPTEMBER 30, 2019

($ reported in thousands)

	Shares		Value
Consumer Staples—continued
Procter & Gamble Co. (The)(2)		9,441	$	1,174
Spectrum Brands Holdings, Inc.		21		1
Sysco Corp.		1,806		143
Tyson Foods, Inc. Class A		1,121		97
Walgreens Boots Alliance, Inc.(2)		2,993		166
Walmart, Inc.(2)		5,264		625
				7,042
Energy—3.9%
Apache Corp.		1,171		30
Baker Hughes a GE Co.		1,706		40
Cabot Oil & Gas Corp.		1,412		25
Chevron Corp.(2)		6,249		741
Cimarex Energy Co.		314		15
Concho Resources, Inc.		639		43
ConocoPhillips(2)		3,564		203
Devon Energy Corp.		1,280		31
Diamondback Energy, Inc.		487		44
EOG Resources, Inc.		1,793		133
Exxon Mobil Corp.(2)		13,846		978
Halliburton Co.(2)		2,794		53
Helmerich & Payne, Inc.		350		14
Hess Corp.		807		49
HollyFrontier Corp.		525		28
Kinder Morgan, Inc.(2)		6,446		133
Marathon Oil Corp.		2,510		31
Marathon Petroleum Corp.		2,294		139
National Oilwell Varco, Inc.		1,218		26
Noble Energy, Inc.		1,494		33
Occidental Petroleum Corp.(2)		2,853		127
ONEOK, Inc.		1,362		100
Phillips 66		1,404		144
Pioneer Natural Resources Co.		540		68
Schlumberger Ltd.(2)		4,374		149
TechnipFMC plc		1,387		33
Valero Energy Corp.		1,511		129
Williams Cos., Inc. (The)		4,009		96
				3,635
Financials—11.9%
Affiliated Managers Group, Inc.		173		14
Aflac, Inc.		2,533		133
Allstate Corp. (The)(2)		1,131		123
American Express Co.(2)		2,352		278
American International Group, Inc.(2)		2,984		166
Ameriprise Financial, Inc.		457		67
Aon plc		817		158
Assurant, Inc.		209		26
Bank of America Corp.(2)		30,261		883
Bank of New York Mellon Corp. (The)(2)		3,001		136
BB&T Corp.		2,612		139
Berkshire Hathaway, Inc. Class B(1)(2)		6,599		1,373
BlackRock, Inc.(2)		406		181
Capital One Financial Corp.(2)		1,593		145
Cboe Global Markets, Inc.		374		43
Charles Schwab Corp. (The)		4,045		169
Chubb Ltd.		1,552		251
Cincinnati Financial Corp.		514		60
Citigroup, Inc.(2)		7,914		547
Citizens Financial Group, Inc.		1,563		55
CME Group, Inc.		1,202		254
Comerica, Inc.		525		35

	Shares		Value
Financials—continued
Discover Financial Services		1,108	$	90
E*TRADE Financial Corp.		832		36
Everest Re Group Ltd.		139		37
Fifth Third Bancorp		2,480		68
First Republic Bank		568		55
Franklin Resources, Inc.		1,003		29
Gallagher (Arthur J.) & Co.		628		56
Globe Life, Inc.		344		33
Goldman Sachs Group, Inc. (The)(2)		1,155		239
Hartford Financial Services Group, Inc. (The)		1,227		74
Huntington Bancshares, Inc.		3,613		52
Intercontinental Exchange, Inc.		1,848		171
Invesco Ltd.		1,365		23
Jefferies Financial Group, Inc.		855		16
JPMorgan Chase & Co.(2)		11,065		1,302
KeyCorp		3,453		62
Lincoln National Corp.		690		42
Loews Corp.		912		47
M&T Bank Corp.		466		74
MarketAxess Holdings, Inc.		128		42
Marsh & McLennan Cos., Inc.		1,738		174
MetLife, Inc.(2)		3,251		153
Moody’s Corp.		561		115
Morgan Stanley(2)		4,359		186
MSCI, Inc.		286		62
Nasdaq, Inc.		391		39
Northern Trust Corp.		742		69
People’s United Financial, Inc.		1,344		21
PNC Financial Services Group, Inc. (The)		1,539		216
Principal Financial Group, Inc.		883		50
Progressive Corp. (The)		1,968		152
Prudential Financial, Inc.		1,383		124
Raymond James Financial, Inc.		432		36
Regions Financial Corp.		3,452		55
S&P Global, Inc.		838		205
State Street Corp.		1,272		75
SunTrust Banks, Inc.		1,516		104
SVB Financial Group(1)		179		37
Synchrony Financial		2,161		74
T. Rowe Price Group, Inc.		806		92
Travelers Cos., Inc. (The)		888		132
U.S. Bancorp(2)		5,096		282
Unum Group		723		21
Wells Fargo & Co.(2)		13,741		693
Willis Towers Watson plc		440		85
Zions Bancorp NA		621		28
				11,064
Health Care—12.4%
Abbott Laboratories(2)		6,008		503
AbbVie, Inc.(2)		5,031		381
ABIOMED, Inc.(1)		156		28
Agilent Technologies, Inc.		1,085		83
Alexion Pharmaceuticals, Inc.(1)		758		74
Align Technology, Inc.(1)		247		45
Allergan plc(2)		1,044		176
AmerisourceBergen Corp.		529		44
Amgen, Inc.(2)		2,067		400
Anthem, Inc.		867		208
Baxter International, Inc.		1,606		140
Becton, Dickinson & Co.		918		232
Biogen, Inc.(1)(2)		657		153

See Notes to Schedule of Investments.

2

RAMPART ENHANCED CORE EQUITY SERIES

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

SEPTEMBER 30, 2019

($ reported in thousands)

	Shares		Value
Health Care—continued
Boston Scientific Corp.(1)		4,731	$	193
Bristol-Myers Squibb Co.(2)		5,528		280
Cardinal Health, Inc.		1,020		48
Celgene Corp.(1)(2)		2,382		237
Centene Corp.(1)		1,396		60
Cerner Corp.		1,105		75
Cigna Corp.		1,281		194
Cooper Cos., Inc. (The)		168		50
CVS Health Corp.(2)		4,405		278
Danaher Corp.(2)		2,147		310
DaVita, Inc.(1)		357		20
DENTSPLY SIRONA, Inc.		798		43
Edwards Lifesciences Corp.(1)		715		157
Eli Lilly & Co.(2)		2,937		328
Gilead Sciences, Inc.(2)		4,324		274
HCA Healthcare, Inc.		905		109
Henry Schein, Inc.(1)		505		32
Hologic, Inc.(1)		914		46
Humana, Inc.		460		118
IDEXX Laboratories, Inc.(1)		294		80
Illumina, Inc.(1)		501		152
Incyte Corp.(1)		604		45
Intuitive Surgical, Inc.(1)		395		213
IQVIA Holdings, Inc.(1)		535		80
Johnson & Johnson(2)		9,028		1,168
Laboratory Corporation of America Holdings(1)		334		56
McKesson Corp.		641		88
Medtronic plc(2)		4,548		494
Merck & Co., Inc.(2)		8,755		737
Mettler-Toledo International, Inc.(1)		84		59
Mylan NV(1)		1,731		34
Nektar Therapeutics(1)		583		11
PerkinElmer, Inc.		377		32
Perrigo Co. plc		423		24
Pfizer, Inc.(2)		18,988		682
Quest Diagnostics, Inc.		454		49
Regeneron Pharmaceuticals, Inc.(1)		266		74
ResMed, Inc.		487		66
Stryker Corp.		1,054		228
Teleflex, Inc.		157		53
Thermo Fisher Scientific, Inc.		1,366		398
UnitedHealth Group, Inc.(2)		3,193		694
Universal Health Services, Inc. Class B		281		42
Varian Medical Systems, Inc.(1)		309		37
Vertex Pharmaceuticals, Inc.(1)		874		148
Waters Corp.(1)		235		52
WellCare Health Plans, Inc.(1)		170		44
Zimmer Biomet Holdings, Inc.		699		96
Zoetis, Inc.		1,629		203
				11,458
Industrials—8.5%
3M Co.(2)		1,960		322
A.O. Smith Corp.		483		23
Alaska Air Group, Inc.		425		28
Allegion plc		319		33
American Airlines Group, Inc.		1,417		38
AMETEK, Inc.		773		71
Arconic, Inc.		1,349		35
Boeing Co. (The)(2)		1,773		675
Caterpillar, Inc.(2)		1,949		246
Cintas Corp.		288		77

	Shares		Value
Industrials—continued
Copart, Inc.(1)		682	$	55
CSX Corp.		2,620		182
Cummins, Inc.		492		80
Deere & Co.		1,075		181
Delta Air Lines, Inc.		2,077		120
Dover Corp.		493		49
Eaton Corp. plc		1,442		120
Emerson Electric Co.(2)		2,071		139
Equifax, Inc.		410		58
Expeditors International of Washington, Inc.		584		43
Fastenal Co.		1,941		63
FedEx Corp.(2)		819		119
Flowserve Corp.		437		20
Fortive Corp.		1,000		69
Fortune Brands Home & Security, Inc.		476		26
General Dynamics Corp.(2)		915		167
General Electric Co.(2)		29,424		263
Honeywell International, Inc.(2)		2,476		419
Hunt (JB) Transport Services, Inc.		297		33
Huntington Ingalls Industries, Inc.		139		29
IDEX Corp.		257		42
IHS Markit Ltd.(1)		1,233		82
Illinois Tool Works, Inc.		1,025		160
Ingersoll-Rand plc		819		101
Jacobs Engineering Group, Inc.		387		35
Johnson Controls International plc		2,713		119
Kansas City Southern		341		45
L3Harris Technologies, Inc.		739		154
Lockheed Martin Corp.(2)		821		320
Masco Corp.		1,001		42
Nielsen Holdings plc		1,201		26
Norfolk Southern Corp.		908		163
Northrop Grumman Corp.		570		214
PACCAR, Inc.		1,181		83
Parker-Hannifin Corp.		439		79
Pentair plc		538		20
Quanta Services, Inc.		480		18
Raytheon Co.(2)		922		181
Republic Services, Inc.		730		63
Robert Half International, Inc.		404		23
Robinson (C.H.) Worldwide, Inc.		469		40
Rockwell Automation, Inc.		402		66
Rollins, Inc.		501		17
Roper Technologies, Inc.		351		125
Snap-on, Inc.		188		29
Southwest Airlines Co.		1,677		91
Stanley Black & Decker, Inc.		518		75
Textron, Inc.		786		39
TransDigm Group, Inc.		166		86
Union Pacific Corp.(2)		2,427		393
United Airlines Holdings, Inc.(1)		771		68
United Parcel Service, Inc. Class B(2)		2,367		284
United Rentals, Inc.(1)		265		33
United Technologies Corp.(2)		2,728		372
Verisk Analytics, Inc.		561		89
W.W. Grainger, Inc.		153		46
Wabtec Corp.(2)		614		44
Waste Management, Inc.		1,326		153
Xylem, Inc.		613		49
				7,852

See Notes to Schedule of Investments.

3

RAMPART ENHANCED CORE EQUITY SERIES

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

SEPTEMBER 30, 2019

($ reported in thousands)

	Shares		Value
Information Technology—22.2%
Accenture plc Class A(2)		2,404	$	462
Adobe, Inc.(1)		1,846		510
Advanced Micro Devices, Inc.(1)		3,351		97
Akamai Technologies, Inc.(1)		619		57
Alliance Data Systems Corp.		149		19
Amphenol Corp. Class A		1,123		108
Analog Devices, Inc.		1,406		157
ANSYS, Inc.(1)		313		69
Apple, Inc.(2)		16,390		3,671
Applied Materials, Inc.		3,568		178
Arista Networks, Inc.(1)		200		48
Autodesk, Inc.(1)		827		122
Automatic Data Processing, Inc.		1,637		264
Broadcom, Inc.		1,504		415
Broadridge Financial Solutions, Inc.		438		54
Cadence Design Systems, Inc.(1)		1,072		71
Cisco Systems, Inc.(2)		16,067		794
Citrix Systems, Inc.		470		45
Cognizant Technology Solutions Corp. Class A		2,139		129
Corning, Inc.		2,955		84
DXC Technology Co.		1,013		30
F5 Networks, Inc.(1)		224		31
Fidelity National Information Services, Inc.		2,295		305
Fiserv, Inc.(1)		2,152		223
FleetCor Technologies, Inc.(1)		324		93
FLIR Systems, Inc.		508		27
Fortinet, Inc.(1)		551		42
Gartner, Inc.(1)		340		49
Global Payments, Inc.		1,088		173
Hewlett Packard Enterprise Co.		5,081		77
HP, Inc.		5,809		110
Intel Corp.(2)		16,962		874
International Business Machines Corp.(2)		3,341		486
Intuit, Inc.		983		261
IPG Photonics Corp.(1)		136		18
Jack Henry & Associates, Inc.		290		42
Juniper Networks, Inc.		1,296		32
Keysight Technologies, Inc.(1)		707		69
KLA Corp.		612		98
Lam Research Corp.		571		132
Leidos Holdings, Inc.		542		47
Mastercard, Inc. Class A(2)		3,401		924
Maxim Integrated Products, Inc.		1,034		60
Microchip Technology, Inc.		905		84
Micron Technology, Inc.(1)		4,241		182
Microsoft Corp.(2)		28,976		4,029
Motorola Solutions, Inc.		618		105
NetApp, Inc.		929		49
NVIDIA Corp.		2,310		402
Oracle Corp.(2)		9,151		504
Paychex, Inc.		1,204		100
PayPal Holdings, Inc.(1)(2)		4,431		459
Qorvo, Inc.(1)		455		34
QUALCOMM, Inc.(2)		4,619		352
salesforce.com, Inc.(1)		3,225		479
Seagate Technology plc		957		51
Skyworks Solutions, Inc.		656		52
Symantec Corp.		2,322		55
Synopsys, Inc.(1)		569		78
TE Connectivity Ltd.		1,270		118
Texas Instruments, Inc.(2)		3,546		458
VeriSign, Inc.(1)		396		75

	Shares		Value
Information Technology—continued
Visa, Inc. Class A(2)		6,568	$	1,130
Western Digital Corp.		1,129		67
Western Union Co. (The)		1,633		38
Xerox Holdings Corp.		739		22
Xilinx, Inc.		970		93
				20,573
Materials—2.5%
Air Products & Chemicals, Inc.		744		165
Albemarle Corp.		359		25
Amcor plc		5,665		55
Avery Dennison Corp.		290		33
Ball Corp.		1,130		82
Celanese Corp.		431		53
CF Industries Holdings, Inc.		738		36
Corteva, Inc.(2)		2,553		72
Dow, Inc.(2)		2,458		117
DuPont de Nemours, Inc.(2)		2,551		182
Eastman Chemical Co.		469		35
Ecolab, Inc.		866		172
FMC Corp.		446		39
Freeport-McMoRan, Inc.		5,011		48
International Flavors & Fragrances, Inc.		346		42
International Paper Co.		1,361		57
Linde plc		1,838		356
LyondellBasell Industries NV Class A		892		80
Martin Marietta Materials, Inc.		212		58
Mosaic Co. (The)		1,202		25
Newmont Goldcorp Corp.		2,748		104
Nucor Corp.		1,041		53
Packaging Corporation of America		325		34
PPG Industries, Inc.		813		96
Sealed Air Corp.		543		23
Sherwin-Williams Co. (The)		278		153
Vulcan Materials Co.		449		68
Westrock Co.		878		32
				2,295
Real Estate—3.2%
Alexandria Real Estate Equities, Inc.		422		65
American Tower Corp.		1,654		366
Apartment Investment & Management Co. Class A		557		29
AvalonBay Communities, Inc.		523		113
Boston Properties, Inc.		581		75
CBRE Group, Inc. Class A(1)		1,179		62
Crown Castle International Corp.		1,557		216
Digital Realty Trust, Inc.		781		101
Duke Realty Corp.		1,345		46
Equinix, Inc.		315		182
Equity Residential		1,389		120
Essex Property Trust, Inc.		246		80
Extra Space Storage, Inc.		484		57
Federal Realty Investment Trust		280		38
HCP, Inc.		1,781		63
Host Hotels & Resorts, Inc.		2,782		48
Iron Mountain, Inc.		1,077		35
Kimco Realty Corp.		1,583		33
Macerich Co. (The)		399		13
Mid-America Apartment Communities, Inc.		426		55
Prologis, Inc.		2,362		201
Public Storage		559		137
Realty Income Corp.		1,174		90

See Notes to Schedule of Investments.

4

RAMPART ENHANCED CORE EQUITY SERIES

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

SEPTEMBER 30, 2019

($ reported in thousands)

	Shares		Value
Real Estate—continued
Regency Centers Corp.		623	$	43
SBA Communications, Corp.		424		102
Simon Property Group, Inc.(2)		1,162		181
SL Green Realty Corp.		316		26
UDR, Inc.		1,053		51
Ventas, Inc.		1,377		101
Vornado Realty Trust		653		42
Welltower, Inc.		1,508		137
Weyerhaeuser Co.		2,806		78
				2,986
Utilities—3.6%
AES Corp.		2,482		40
Alliant Energy Corp.		887		48
Ameren Corp.		922		74
American Electric Power Co., Inc.		1,850		173
American Water Works Co., Inc.		677		84
Atmos Energy Corp.		438		50
CenterPoint Energy, Inc.		1,871		56
CMS Energy Corp.		1,064		68
Consolidated Edison, Inc.		1,227		116
Dominion Energy, Inc.		3,007		244
DTE Energy Co.		690		92
Duke Energy Corp.(2)		2,732		262
Edison International		1,324		100
Entergy Corp.		715		84
Evergy, Inc.		918		61
Eversource Energy		1,201		103
Exelon Corp.(2)		3,643		176
FirstEnergy Corp.		1,886		91
NextEra Energy, Inc.(2)		1,798		419
NiSource, Inc.		1,396		42
NRG Energy, Inc.		948		37
Pinnacle West Capital Corp.		419		41
PPL Corp.		2,703		85
Public Service Enterprise Group, Inc.		1,897		118
Sempra Energy		1,028		152
Southern Co. (The)(2)		3,895		240
WEC Energy Group, Inc.		1,184		113
Xcel Energy, Inc.		1,928		125
				3,294
TOTAL COMMON STOCKS
(Identified Cost $69,665)				89,237

	Shares		Value
EXCHANGE-TRADED FUND—2.6%
Invesco S&P 500 Low Volatility Index Fund(3)		41,846	$	2,423
TOTAL EXCHANGE-TRADED FUND
(Identified Cost $2,324)				2,423
TOTAL LONG-TERM INVESTMENTS—99.0%
(Identified Cost $71,989)				91,660
SHORT-TERM INVESTMENTS—0.1%
PURCHASED OPTIONS—0.1%
(See open purchased options schedule)
Total Purchased Options
(Premiums paid $107)				88
TOTAL SHORT-TERM INVESTMENTS
(Identified Cost $107)				88
TOTAL INVESTMENTS, BEFORE WRITTEN OPTIONS—99.1%
(Identified Cost $72,096)			$	91,748
WRITTEN OPTIONS—(0.2)%
(See open written options schedule)
Total Written Options
(Premiums received $194)				(169	)
TOTAL INVESTMENTS, NET OF WRITTEN OPTIONS—98.9%			$	91,579
(Identified Cost $71,902)
Other assets and liabilities, net—1.1%				1,002
NET ASSETS—100.0%			$	92,581

Footnote Legend:

⁽¹⁾  Non-income producing.

⁽²⁾  All or a portion of the security is segregated as collateral for written options.

⁽³⁾  Shares of this fund are publicly offered, and its prospectus and annual report are publicly available.

Open Purchased Options Contracts as of September 30, 2019 were as follows:

Description of Options	Number of Contracts		Contract Notional Amount		Strike Price(1)		Expiration Date		Value		��
Call Option
S&P 500®Index		123	$	39,668	$	3,225.00		11/08/19	$	6
Put Option
S&P 500®Index		123		32,718		2,660.00		11/08/19		82
Total Purchased Options									$	88

See Notes to Schedule of Investments.

5

RAMPART ENHANCED CORE EQUITY SERIES

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

SEPTEMBER 30, 2019

($ reported in thousands)

Open Written Options Contracts as of September 30, 2019 were as follows:

Description of Options	Number of Contracts		Contract Notional Amount		Strike Price(1)		Expiration Date		Value
Call Option
S&P 500®Index		123	$	38,745	$	3,150.00		11/08/19	$	(27	)
Put Option
S&P 500®Index		123		33,641		2,735.00		11/08/19		(142	)
Total Written Options									$	(169	)

Footnote Legend:

⁽¹⁾  Strike price not reported in thousands.

The following table summarizes the market value of the Fund’s investments as of September 30, 2019, based on the inputs used to value them (See Security Valuation Note 1 in the Notes to Schedule of Investments):

	Total Value at September 30, 2019				Level 1 Quoted Prices				Level 2 Significant Observable Inputs
Assets:
Equity Securities:
Common Stocks		$	89,237			$	89,237			$	—
Exchange-Traded Fund			2,423				2,423				—
Other Financial Instruments:
Purchased Options			88				6				82
Total Assets			91,748				91,666				82
Liabilities:
Other Financial Instruments:
Written Options			(169	)			(27	)			(142	)
Total Investments		$	91,579			$	91,639			$	(60	)

There were no securities valued using significant unobservable inputs (Level 3) at September 30, 2019.

There were no transfers into or out of Level 3 related to securities held at September 30, 2019.

See Notes to Schedule of Investments.

6

RAMPART ENHANCED CORE EQUITY SERIES

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

SEPTEMBER 30, 2019

Note 1. Security Valuation

The Series utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The Series’ policy is to recognize transfers into or out of Level 3 at the end of the reporting period.

•    Level 1 –	quoted prices in active markets for identical securities (security types generally include listed equities).
•    Level 2 –	prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
•    Level 3 –	prices determined using significant unobservable inputs (including the Valuation Committee’s own assumptions in determining the fair value of investments).

A description of the valuation techniques applied to the Series’ major categories of assets and liabilities measured at fair value on a recurring basis is as follows:

Equity securities are valued at the official closing price (typically last sale) on the exchange on which the securities are primarily traded or, if no closing price is available, at the last bid price and are categorized as Level 1 in the hierarchy. Restricted equity securities and private placements that are illiquid, or are internally fair valued by the Valuation Committee, are generally categorized as Level 3 in the hierarchy.

Certainnon-U.S. securities may be fair valued in cases where closing prices are not readily available or are deemed not reflective of readily available market prices. For example, significant events (such as movement in the U.S. securities market, or other regional and local developments) may occur between the time thatnon-U.S. markets close (where the security is principally traded) and the time that the Series calculates its net asset value (“NAV”) at the close of regular trading on the New York Stock Exchange (“NYSE”) (generally 4 p.m. Eastern time) that may impact the value of securities traded in thesenon-U.S. markets. In such cases, the Series fair valuesnon-U.S. securities using an independent pricing service which considers the correlation of the trading patterns of thenon-U.S. security to the intraday trading in the U.S. markets for investments such as American Depositary Receipts, financial futures, exchange-traded funds (“ETFs”), and certain indexes, as well as prices for similar securities. Such fair valuations are categorized as Level 2 in the hierarchy. Because the frequency of significant events is not predictable, fair valuation of certainnon-U.S. common stocks may occur on a frequent basis.

Debt securities, including restricted securities, are valued based on evaluated quotations received from independent pricing services or from dealers who make markets in such securities. For most bond types, the pricing service utilizes matrix pricing that considers one or more of the following factors: yield or price of bonds of comparable quality, coupon, maturity, current cash flows, type, and current day trade information, as well as dealer-supplied prices. These valuations are generally categorized as Level 2 in the hierarchy. Structured debt instruments, such as mortgage-backed and asset-backed securities, may also incorporate collateral analysis and utilize cash flow models for valuation and are generally categorized as Level 2 in the hierarchy. Pricing services do not provide pricing for all securities and therefore indicative bids from dealers are utilized which are based on pricing models used by market makers in the security and are generally categorized as Level 2 in the hierarchy. Debt securities that are internally fair valued by the Valuation Committee, are generally categorized as Level 3 in the hierarchy.

Listed derivatives, such as options, that are actively traded are valued based on quoted prices from the exchange and are categorized as Level 1 in the hierarchy.Over-the-counter derivative contracts, which include forward currency contracts and equity-linked instruments, do not require material subjectivity as pricing inputs are observed from actively quoted markets and are categorized as Level 2 in the hierarchy.

Investments inopen-end mutual funds are valued at NAV. Investments inclosed-end funds and ETFs are valued as of the close of regular trading on the NYSE each business day. Each is categorized as Level 1 in the hierarchy.

A summary of the inputs used to value the Series’ net assets by each major security type is disclosed at the end of the Schedule of Investments for the Series. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

For additional information about significant accounting policies, refer to Series’ most recent semi or annual report.

7