NPORT-EX 2 VIPHA40VirtRampartMATrendFd.htm
Rampart Multi-Asset Trend Fund
SCHEDULE OF INVESTMENTS (Unaudited)
June 30, 2020
($ reported in thousands)
  Shares   Value
Common Stocks—36.5%
Communication Services—2.3%    
Alphabet, Inc. Class A(1) 48   $68
Alphabet, Inc. Class C(1) 46   65
Charter Communications, Inc. Class A(1) 127   65
Comcast Corp. Class A 3,870   151
DISH Network Corp. Class A(1) 214   7
Facebook, Inc. Class A(1) 383   87
Live Nation Entertainment, Inc.(1) 77   3
Netflix, Inc.(1) 237   108
T-Mobile US, Inc.(1) 2,079   217
Twitter, Inc.(1) 126   4
Walt Disney Co. (The) 977   109
      884
       
 
Consumer Discretionary—9.9%    
Advance Auto Parts, Inc. 187   27
Amazon.com, Inc.(1) 74   204
Aptiv plc 2,141   167
AutoZone, Inc.(1) 63   71
Best Buy Co., Inc. 2,531   221
Booking Holdings, Inc.(1) 7   11
BorgWarner, Inc. 1,696   60
CarMax, Inc.(1) 435   39
Carnival Corp. 1,683   28
Chipotle Mexican Grill, Inc.(1) 19   20
Darden Restaurants, Inc. 95   7
Dollar General Corp. 430   82
Dollar Tree, Inc.(1) 410   38
Domino’s Pizza, Inc. 29   11
eBay, Inc. 115   6
Expedia Group, Inc. 23   2
Ford Motor Co. 15,851   96
Garmin Ltd. 2,273   222
General Motors Co. 5,040   127
Hilton Worldwide Holdings, Inc. 981   72
Home Depot, Inc. (The) 645   162
Horton (D.R.), Inc. 1,344   74
Kohl’s Corp. 10,905   226
Las Vegas Sands Corp. 2,504   114
Leggett & Platt, Inc. 2,745   96
Lennar Corp. Class A 1,116   69
Lowe’s Cos., Inc. 449   61
Marriott International, Inc. Class A 931   80
McDonald’s Corp. 546   101
MGM Resorts International 3,584   60
Mohawk Industries, Inc.(1) 1,267   129
Newell Brands, Inc. 14,249   226
NIKE, Inc. Class B 2,285   224
Norwegian Cruise Line Holdings Ltd.(1) 899   15
NVR, Inc.(1) 14   46
O’Reilly Automotive, Inc.(1) 201   85
PulteGroup, Inc. 1,008   34
Royal Caribbean Cruises Ltd. 595   30
Starbucks Corp. 852   63
Target Corp. 842   101
Tiffany & Co. 609   74
Tractor Supply Co. 641   84
Ulta Beauty, Inc.(1) 308   63
Wynn Resorts Ltd. 699   52
  Shares   Value
       
Consumer Discretionary—continued    
Yum! Brands, Inc. 222   $19
      3,799
       
 
Consumer Staples—1.1%    
Coty, Inc. Class A 1,407   6
Estee Lauder Cos., Inc. (The) Class A 1,144   216
Sysco Corp. 4,083   223
      445
       
 
Energy—1.2%    
Apache Corp. 601   8
Baker Hughes Co. 2,754   42
Cabot Oil & Gas Corp. 605   10
Concho Resources, Inc. 308   16
ConocoPhillips 1,666   70
Devon Energy Corp. 601   7
Diamondback Energy, Inc. 253   11
EOG Resources, Inc. 902   46
Halliburton Co. 3,611   47
Hess Corp. 395   21
Marathon Oil Corp. 1,208   7
National Oilwell Varco, Inc. 1,655   20
Noble Energy, Inc. 819   7
Pioneer Natural Resources Co. 256   25
Schlumberger Ltd. 5,776   106
TechnipFMC plc 1,867   13
      456
       
 
Financials—2.9%    
American Express Co. 1,242   118
American International Group, Inc. 4,106   128
Aon plc Class A 362   70
Assurant, Inc. 287   30
Capital One Financial Corp. 844   53
Cboe Global Markets, Inc. 80   7
Citizens Financial Group, Inc. 434   11
CME Group, Inc. 262   43
Comerica, Inc. 144   5
Discover Financial Services 575   29
Fifth Third Bancorp 766   15
First Republic Bank 184   19
Gallagher (Arthur J.) & Co. 297   29
Hartford Financial Services Group, Inc. (The) 1,703   66
Huntington Bancshares, Inc. 1,101   10
Intercontinental Exchange, Inc. 400   37
KeyCorp 1,043   13
M&T Bank Corp. 137   14
MarketAxess Holdings, Inc. 27   13
Marsh & McLennan Cos., Inc. 786   84
Moody’s Corp. 118   32
MSCI, Inc. 63   21
Nasdaq, Inc. 83   10
People’s United Financial, Inc. 440   5
PNC Financial Services Group, Inc. (The) 450   47
Regions Financial Corp. 1,015   11
S&P Global, Inc. 176   58
SVB Financial Group(1) 55   12
Synchrony Financial 996   22
Truist Financial Corp. 1,432   54
Willis Towers Watson plc 201   40
See Notes to Schedule of Investments
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Rampart Multi-Asset Trend Fund
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2020
($ reported in thousands)
  Shares   Value
       
Financials—continued    
Zions Bancorp NA 172   $6
      1,112
       
 
Health Care—1.7%    
Abbott Laboratories 437   40
ABIOMED, Inc.(1) 11   3
Agilent Technologies, Inc. 228   20
Anthem, Inc. 130   34
Baxter International, Inc. 126   11
Becton Dickinson and Co. 74   18
Bio-Rad Laboratories, Inc. Class A(1) 16   7
Boston Scientific Corp.(1) 343   12
Centene Corp.(1) 292   19
Danaher Corp. 155   27
DexCom, Inc.(1) 22   9
Edwards Lifesciences Corp.(1) 153   11
Hologic, Inc.(1) 62   4
Humana, Inc. 68   26
IDEXX Laboratories, Inc.(1) 21   7
Illumina, Inc.(1) 110   41
Intuitive Surgical, Inc.(1) 29   16
IQVIA Holdings, Inc.(1) 131   19
Medtronic plc 329   30
Mettler-Toledo International, Inc.(1) 18   14
PerkinElmer, Inc. 82   8
ResMed, Inc. 35   7
STERIS plc 21   3
Stryker Corp. 78   14
Teleflex, Inc. 11   4
Thermo Fisher Scientific, Inc. 296   107
UnitedHealth Group, Inc. 490   145
Varian Medical Systems, Inc.(1) 22   3
Waters Corp.(1) 46   8
Zimmer Biomet Holdings, Inc. 51   6
      673
       
 
Industrials—5.2%    
AMETEK, Inc. 431   39
Cintas Corp. 474   126
Copart, Inc.(1) 1,157   96
CSX Corp. 739   52
Deere & Co. 1,434   225
Dover Corp. 157   15
Eaton Corp. plc 762   67
Emerson Electric Co. 1,130   70
Equifax, Inc. 326   56
Fastenal Co. 2,620   112
Flowserve Corp. 140   4
Fortive Corp. 327   22
Hunt (JB) Transport Services, Inc. 722   87
IDEX Corp. 84   13
IHS Markit Ltd. 1,079   81
Illinois Tool Works, Inc. 314   55
Ingersoll Rand, Inc.(1) 380   11
Kansas City Southern 94   14
Nielsen Holdings plc 941   14
Norfolk Southern Corp. 252   44
Old Dominion Freight Line, Inc. 799   135
Otis Worldwide Corp. 454   26
Parker-Hannifin Corp. 138   25
Pentair plc 177   7
  Shares   Value
       
Industrials—continued    
Republic Services, Inc. 731   $60
Rockwell Automation, Inc. 219   47
Rollins, Inc. 486   21
Snap-on, Inc. 60   8
Stanley Black & Decker, Inc. 172   24
Union Pacific Corp. 669   113
United Rentals, Inc.(1) 327   49
Verisk Analytics, Inc. 431   73
W.W. Grainger, Inc. 196   62
Waste Management, Inc. 1,339   142
Xylem, Inc. 197   13
      2,008
       
 
Information Technology—5.2%    
Adobe, Inc.(1) 169   74
Advanced Micro Devices, Inc.(1) 233   12
Akamai Technologies, Inc.(1) 936   100
Analog Devices, Inc. 74   9
ANSYS, Inc.(1) 30   9
Apple, Inc. 575   210
Applied Materials, Inc. 1,536   93
Autodesk, Inc.(1) 77   18
Automatic Data Processing, Inc. 84   12
Broadcom, Inc. 82   26
Broadridge Financial Solutions, Inc. 23   3
Cadence Design Systems, Inc.(1) 97   9
Citrix Systems, Inc. 40   6
Fidelity National Information Services, Inc. 122   16
Fiserv, Inc.(1) 110   11
FleetCor Technologies, Inc.(1) 16   4
FLIR Systems, Inc. 768   31
Fortinet, Inc.(1) 17   2
Global Payments, Inc. 59   10
Hewlett Packard Enterprise Co. 185   2
HP, Inc. 202   4
Intel Corp. 850   51
Intuit, Inc. 91   27
IPG Photonics Corp.(1) 241   39
Jack Henry & Associates, Inc. 15   3
Keysight Technologies, Inc.(1) 1,094   110
KLA Corp. 262   51
Lam Research Corp. 237   77
Mastercard, Inc. Class A 174   51
Maxim Integrated Products, Inc. 54   3
Microchip Technology, Inc. 49   5
Micron Technology, Inc.(1) 216   11
Microsoft Corp. 958   195
NetApp, Inc. 32   1
NortonLifeLock, Inc. 68   1
NVIDIA Corp. 124   47
Oracle Corp. 263   15
Paychex, Inc. 62   5
Paycom Software, Inc.(1) 17   5
PayPal Holdings, Inc.(1) 233   41
Qorvo, Inc.(1) 24   3
QUALCOMM, Inc. 225   21
salesforce.com, Inc.(1) 315   59
Seagate Technology plc 32   2
ServiceNow, Inc.(1) 25   10
Skyworks Solutions, Inc. 34   4
Synopsys, Inc.(1) 53   10
TE Connectivity Ltd. 2,256   184
 
See Notes to Schedule of Investments
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Rampart Multi-Asset Trend Fund
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2020
($ reported in thousands)
  Shares   Value
       
Information Technology—continued    
Texas Instruments, Inc. 185   $23
Tyler Technologies, Inc.(1) 14   5
VeriSign, Inc.(1) 588   122
Visa, Inc. Class A 332   64
Western Digital Corp. 41   2
Western Union Co. (The) 81   2
Xerox Holdings Corp. 26   —(2)
Xilinx, Inc. 47   5
Zebra Technologies Corp. Class A(1) 310   79
      1,994
       
 
Materials—4.1%    
Air Products and Chemicals, Inc. 299   72
Albemarle Corp. 123   9
Ball Corp. 3,188   222
Celanese Corp. 137   12
Dow, Inc. 3,528   144
DuPont de Nemours, Inc. 858   46
Eastman Chemical Co. 3,216   224
Ecolab, Inc. 288   57
Freeport-McMoRan, Inc. 19,621   227
International Flavors & Fragrances, Inc. 125   15
Linde plc 705   150
LyondellBasell Industries NV Class A 1,220   80
Newmont Corp. 3,666   226
PPG Industries, Inc. 273   29
Sherwin-Williams Co. (The) 94   54
      1,567
       
 
Real Estate—2.3%    
American Tower Corp. 254   66
CBRE Group, Inc. Class A(1) 4,947   224
Crown Castle International Corp. 242   40
Digital Realty Trust, Inc. 159   23
Duke Realty Corp. 1,008   36
Equinix, Inc. 52   36
Extra Space Storage, Inc. 75   7
Federal Realty Investment Trust 262   22
Iron Mountain, Inc. 163   4
Kimco Realty Corp. 1,612   21
Prologis, Inc. 1,996   186
Public Storage 87   17
Realty Income Corp. 1,280   76
Regency Centers Corp. 630   29
SBA Communications, Corp. 66   20
Simon Property Group, Inc. 1,045   71
Weyerhaeuser Co. 428   10
      888
       
 
Utilities—0.6%    
American Water Works Co., Inc. 1,736   223
Total Common Stocks
(Identified Cost $13,477) 		  14,049
       
 
       
 
  Shares   Value
       
       
Exchange-Traded Funds(3)—57.8%
Invesco DB Gold Fund 24,213   $1,288
Invesco DB US Dollar Index Bullish Fund 48,434   1,275
iShares 1-3 Year Treasury Bond ETF 26,531   2,298
iShares China Large-Cap Index Fund 28,914   1,148
iShares iBoxx $ Investment Grade Corporate Bond ETF 17,105   2,301
iShares iBoxx High Yield Corporate Bond ETF 28,309   2,310
iShares JP Morgan USD Emerging Markets Bond ETF 21,122   2,307
iShares MSCI Germany ETF 42,811   1,161
iShares MSCI Japan ETF 20,907   1,148
iShares MSCI South Korea ETF 20,131   1,150
iShares MSCI Switzerland ETF 29,623   1,154
iShares MSCI Taiwan ETF 28,619   1,151
iShares TIPS Bond ETF 18,640   2,293
iShares U.S. Real Estate ETF 16,408   1,293
Total Exchange-Traded Funds
(Identified Cost $21,762) 		  22,277
       
 
       
 
Rights—0.0%
Communication Services—0.0%    
T-Mobile US, Inc.(1) 2,199   —(2)
Total Rights
(Identified Cost $—) 		  —(2)
       
 
       
 
Total Long-Term Investments—94.3%
(Identified Cost $35,239) 		  36,326
       
 
       
 
Short-Term Investment—0.4%
Money Market Mutual Fund—0.4%
Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 0.085%)(3) 163,396   163
Total Short-Term Investment
(Identified Cost $163) 		  163
       
 
       
 
TOTAL INVESTMENTS—94.7%
(Identified Cost $35,402) 		  $36,489
Other assets and liabilities, net—5.3%   2,053
NET ASSETS—100.0%   $38,542
    
Abbreviations:
DB Deutsche Bank AG
ETF Exchange-Traded Fund
TIPS Treasury-Inflation Protected Securities
    
Footnote Legend:
(1) Non-income producing.
(2) Amount is less than $500.
(3) Shares of these funds are publicly offered, and the prospectus and annual reports of each are publicly available.
 
See Notes to Schedule of Investments
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Rampart Multi-Asset Trend Fund
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2020
($ reported in thousands)
The following table summarizes the market value of the Fund’s investments as of June 30, 2020, based on the inputs used to value them (See Security Valuation Note 1 in the Notes to Schedule of Investments):
  Total
Value at
June 30, 2020 		  Level 1
Quoted Prices
Assets:      
Equity Securities:      
Common Stocks $14,049   $14,049
Rights —(1)   —(1)
Exchange-Traded Funds 22,277   22,277
Money Market Mutual Fund 163   163
Total Investments $36,489   $36,489
    
(1) Amount is less than $500.
There were no securities valued using significant observable inputs (Level 2) or significant unobservable inputs (Level 3) at June 30, 2020.
There were no transfers into or out of Level 3 related to securities held at June 30, 2020.
See Notes to Schedule of Investments
4
RAMPART MULTI-ASSET TREND FUND
NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)
June 30, 2020
Note 1. Security Valuation
The Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The Fund’s 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 Fund’s 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.
Certain non-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 that non-U.S. markets close (where the security is principally traded) and the time that the Fund 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 these non-U.S. markets. In such cases, the Fund’s fair value non-U.S. securities using an independent pricing service which considers the correlation of the trading patterns of the non-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 certain non-U.S. common stocks may occur on a frequent basis.
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 in open-end mutual funds are valued at NAV. Investments in closed-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 Fund’s net assets by each major security type is disclosed at the end of the Schedule of Investments for the Fund. 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 the Fund’s most recent semi or annual report.
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