# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-23-045018
**Filing Date:** 2023-2
**Character Count:** 35278
**Document Hash:** afbeb38dd9006f6a393f3020c5752939
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-045018.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-045018

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RYDEX VARIABLE TRUST
- **CENTRAL INDEX KEY:** 0001064046
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08821
- **FILM NUMBER:** 23680323

**BUSINESS ADDRESS:**
- **STREET 1:** 702 KING FARM BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850
- **BUSINESS PHONE:** 301-296-5100

**MAIL ADDRESS:**
- **STREET 1:** 702 KING FARM BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850

## Series and Classes Contracts Data

### Global Managed Futures Strategy Fund (Series ID: S000023531)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000069235 | Variable Annuity |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Rydex Variable Trust

- **b. Investment Company Act file number:** 811-08821

- **c. CIK number of Registrant:** 0001064046

- **d. LEI of Registrant:** 549300LJH0YR8RY3N305

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

  - **Street Address 1:** 702 King Farm Blvd., Suite 200

  - **City:** Rockville

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 20850

  - **Telephone number:** 301-296-5100

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

- **a. Name of Series:** Global Managed Futures Strategy Fund

- **b. EDGAR series identifier (if any):** S000023531

- **c. LEI of Series:** 549300CLOWHV203GAV04

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $21239656.73

**Total Liabilities:** $196952.00

**Net Assets:** $21042704.73

**Amount of Assets Invested in Other Investment Companies:** $1805467.10

**Cash Not Reported:** $349973.26

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 684.63147912 | **5-Year:** 354.53352784 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000069235 | 0.33%                | -5.16%               | 0.63%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5764.46                 | $-22621.72                                 |
| Month 2  | $-3116.64                | $19866.19                                  |
| Month 3  | $-8.03                   | $14277.25                                  |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Meff Renta Variable (Madrid)                  | IBEX 35 Index Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | ES        |         6 | NC      | $-1877.03     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE Futures US Softs                          | Cotton #2 Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         6 | NC      | $-2426.41     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Natural Gas Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         1 | NC      | $-7662.55     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Coffee 'C' Futures Contracts                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         8 | NC      | $9157.92      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Oat Futures Contracts                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -4 | NC      | $3420.80      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Mexican Peso Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       112 | NC      | $50110.02     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Soybean Meal Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        12 | NC      | $21784.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                    | J.P. Morgan Securities LLC                                 | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | RA               | CORP              | US        |   7020005 | PA      | $7020004.66   | 33.36%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE Endex                                     | ICE Endex Dutch TTF Natural Gas Futures Contracts          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | NL        |        -5 | NC      | $39470.70     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext Derivatives Paris                    | CAC 40 10 Euro Index Futures Contracts                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | FR        |         5 | NC      | $-3641.24     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Strategy Fund II                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |      4552 | NS      | $109434.53    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Exchange                                | Tokyo Stock Price Index Futures Contracts                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |         6 | NC      | $-44250.64    | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | CME Random Length Lumber Futures Contracts                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -3 | NC      | $6016.68      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Soybean Oil Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        16 | NC      | $12240.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.                         | BofA Securities, Inc.                                      | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |   2700002 | PA      | $2700001.78   | 12.83%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                        | Wheat Futures Contracts                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -12 | NC      | $811.50       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe Commodities                | Low Sulphur Gas Oil Futures Contracts                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         3 | NC      | $5395.05      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Ultra Short Duration Fund - Institutional Class | CUSIP: 40169J523<br>LEI: N/A                  | Long             | EC               | RF                | US        |      7274 | NS      | $70118.13     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Strategy Fund III                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |     89107 | NS      | $2143912.11   | 10.19%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Gasoline RBOB Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         5 | NC      | $46376.25     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Endex                                     | ECX Emission Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | NL        |         3 | NC      | $-22409.67    | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Natural Gas Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         3 | NC      | $-10026.94    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Commodity Exchange, Inc.                      | Copper Futures Contracts                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -6 | NC      | $-3675.93     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | NY Harbor ULSD Futures Contracts                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         1 | NC      | $10717.95     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury 10 Year Note Futures Contracts               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -16 | NC      | $34014.75     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Sugar #11 Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        27 | NC      | $37742.45     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Lean Hogs Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -6 | NC      | $-1948.48     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Sugar #11 Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -12 | NC      | $2536.88      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Montreal Exchange                             | Canadian Government 10 Year Bond Futures Contracts         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | CA        |        -3 | NC      | $11900.74     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Euronext Derivatives Amsterdam                | Amsterdam Index Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | NL        |         3 | NC      | $-21702.75    | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Swiss Franc Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -17 | NC      | $-10652.49    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Soybean Futures Contracts                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        13 | NC      | $22661.78     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Platinum Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         3 | NC      | $7112.02      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Live Cattle Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -16 | NC      | $-8424.28     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - Bobl Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -22 | NC      | $66873.39     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Futures Exchange                         | CBOE Volatility Index Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         4 | NC      | $-798.43      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Japanese Yen Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        -9 | NC      | $-18752.87    | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Cattle Feeder Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -5 | NC      | $-1765.40     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Commodity Exchange, Inc.                      | Silver Futures Contracts                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         3 | NC      | $7340.85      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Exchange                                | Nikkei 225 (OSE) Index Futures Contracts                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |        -1 | NC      | $3428.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ASX Trade24                                   | Australian Government 3 Year Bond Futures Contracts        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | AU        |       -66 | NC      | $71620.83     | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurex                                         | Euro - Schatz Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -65 | NC      | $28971.11     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Dow Jones Industrial Average Index Mini Futures Contracts  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         3 | NC      | $-3772.21     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                                 | U.S. Treasury Bills                                        | CUSIP: 912796ZK8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2355000 | PA      | $2351630.87   | 11.18%            | 2023-01-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Eurex                                         | DAX Index Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |        -1 | NC      | $6889.55      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Canadian Dollar Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         4 | NC      | $1252.25      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Futures Exchange                         | CBOE Volatility Index Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        16 | NC      | $-5070.90     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Softs                          | Cocoa Futures Contracts                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        48 | NC      | $-13700.06    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US Indices                        | MSCI EAFE Index Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -6 | NC      | $10927.71     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Australian Dollar Futures Contracts                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        -6 | NC      | $-3299.66     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury 5 Year Note Futures Contracts                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -50 | NC      | $41502.53     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Hard Red Winter Wheat Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -11 | NC      | $3145.34      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury 2 Year Note Futures Contracts                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -66 | NC      | $36981.17     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                         | LME Primary Aluminum Futures Contracts                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         5 | NC      | $-9532.50     | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| ASX Trade24                                   | SPI 200 Index Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | AU        |        -2 | NC      | $2116.64      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE Futures Europe Financials                 | FTSE 100 Index Futures Contracts                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |        12 | NC      | $3060.76      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                   | Live Cattle Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        25 | NC      | $11523.37     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury Long Bond Futures Contracts                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -9 | NC      | $28465.26     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | S&P 500 Index Mini Futures Contracts                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $-551.25      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Euronext Derivatives Paris                    | Euro - Mill Wheat Futures Contracts                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | FR        |        -8 | NC      | $2332.66      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Live Cattle Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        20 | NC      | $23722.83     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Gasoline RBOB Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -4 | NC      | $-31006.20    | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - OATS Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         7 | NC      | $-5689.19     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | NY Harbor ULSD Futures Contracts                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         3 | NC      | $1713.57      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext Derivatives Paris                    | Euro - Rapeseed Futures Contracts                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | FR        |        -6 | NC      | $7610.86      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| OMX Nordic Exchange Stockholm                 | OMX Stockholm 30 Index Futures Contracts                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | SE        |         4 | NC      | $-1931.72     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| London Metal Exchange                         | LME Nickel Futures Contracts                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         2 | NC      | $-5354.50     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ASX Trade24                                   | Australian Government 10 Year Bond Futures Contracts       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | AU        |        31 | NC      | $-22288.76    | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Minneapolis Grain Exchange                    | Red Spring Wheat Futures Contracts                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         8 | NC      | $648.03       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Commodity Exchange, Inc.                      | Gold 100 oz. Futures Contracts                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         5 | NC      | $9083.80      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Exchange (was SIMEX)                | FTSE Taiwan Index Futures Contracts                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | SG        |       -14 | NC      | $5364.59      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| South African Futures Exchange                | FTSE/JSE TOP 40 Index Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | ZA        |        17 | NC      | $-13392.00    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Cboe Futures Exchange                         | CBOE Volatility Index Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -16 | NC      | $880.79       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                         | LME Zinc Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -3 | NC      | $6066.00      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Futures Exchange                         | CBOE Volatility Index Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         4 | NC      | $51.39        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | Corn Futures Contracts                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        48 | NC      | $52023.16     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                  | Natural Gas Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -7 | NC      | $48685.48     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | British Pound Futures Contracts                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -11 | NC      | $3619.50      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                        | U.S. Treasury Ultra Long Bond Futures Contracts            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -5 | NC      | $22434.26     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Russell 2000 Index Mini Futures Contracts                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         4 | NC      | $1552.91      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro STOXX 50 Index Futures Contracts                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |         8 | NC      | $-5359.46     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe Financials                 | Long Gilt Futures Contracts                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |         7 | NC      | $-2032.29     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Eurex                                         | Euro - Bund Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -26 | NC      | $164683.31    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe Commodities                | Brent Crude Futures Contracts                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -1 | NC      | $-3241.65     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - BTP Italian Government Bond Futures Contracts       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         9 | NC      | $-13588.10    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| London Metal Exchange                         | LME Lead Futures Contracts                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -3 | NC      | $-7977.75     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Exchange (was SIMEX)                | SGX Iron Ore 62% Futures Contracts                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | SG        |        18 | NC      | $6804.00      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                   | Euro FX Futures Contracts                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -28 | NC      | $-37628.85    | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex                                         | Euro - 30 year Bond Futures Contracts                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         3 | NC      | $-11221.50    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Partners Investment Management LLC | Guggenheim Variable Insurance Strategy Fund III            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | RF                | US        |    134486 | NS      | $3237068.44   | 15.38%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures US-Canadian Grains                | Canadian Canola (WCE) Futures Contracts                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | CA        |        10 | NC      | $1216.96      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS CAPITAL INC.                         | Barclays Capital, Inc.                                     | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |   2691640 | PA      | $2691639.79   | 12.79%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Rydex Variable Trust

**Signature:** Jim Howley

**Name of Signer:** Jim Howley

**Title:** CFO