# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001752724-25-209263
**Filing Date:** 2025-8
**Character Count:** 15248
**Document Hash:** f3f97c66fe7bbbe5a6659486806d3b6b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209263.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209263

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RYDEX VARIABLE TRUST
- **CENTRAL INDEX KEY:** 0001064046

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08821
- **FILM NUMBER:** 251264229

**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

### Energy Services Fund (Series ID: S000003715)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010384 | 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:** Energy Services Fund

- **b. EDGAR series identifier (if any):** S000003715

- **c. LEI of Series:** 5493008C68OBZH304M86

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $3005150.71

**Total Liabilities:** $11544.88

**Net Assets:** $2993605.83

**Cash Not Reported:** $0.01

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010384 | -19.75%              | 4.24%                | 5.74%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-69701.17               | $-526409.37                                |
| Month 2  | $3542.32                 | $91160.60                                  |
| Month 3  | $7328.49                 | $126228.84                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Archrock Inc                   | Archrock, Inc.                                       | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |      4747 | NS      | $117868.01    | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Aris Water Solutions Inc       | Aris Water Solutions, Inc.                           | CUSIP: 04041L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2640 | NS      | $62436.00     | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                | Baker Hughes Co.                                     | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9121 | NS      | $349699.14    | 11.68%            |  |  |  | No            |                  1 | On Loan: No      |
| Cactus Inc                     | Cactus, Inc.                                         | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |      2349 | NS      | $102698.28    | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corp                 | ChampionX Corp.                                      | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |      4807 | NS      | $119405.88    | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds           | First American Government Obligations Fund - Class X | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |     49980 | NS      | $49980.00     | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                 | Halliburton Co.                                      | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     10702 | NS      | $218106.76    | 7.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Helix Energy Solutions Group I | Helix Energy Solutions Group, Inc.                   | CUSIP: 42330P107<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | EC               | CORP              | US        |      8039 | NS      | $50163.36     | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Helmerich & Payne Inc          | Helmerich & Payne, Inc.                              | CUSIP: 423452101<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | EC               | CORP              | US        |      3925 | NS      | $59503.00     | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Kodiak Gas Services Inc        | Kodiak Gas Services, Inc.                            | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2307 | NS      | $79060.89     | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy Inc             | Liberty Energy, Inc.                                 | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6240 | NS      | $71635.20     | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                        | NOV, Inc.                                            | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |      9400 | NS      | $116842.00    | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Energy Solutions Inc     | Atlas Energy Solutions, Inc.                         | CUSIP: 642045108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3977 | NS      | $53172.49     | 1.78%             |  |  |  | No            |                  1 | On Loan: —       |
| Oceaneering International Inc  | Oceaneering International, Inc.                      | CUSIP: 675232102<br>LEI: 549300L6PH74701W0R30 | Long             | EC               | CORP              | US        |      3828 | NS      | $79316.16     | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc       | Patterson-UTI Energy, Inc.                           | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |     13834 | NS      | $82035.62     | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| ProFrac Holding Corp           | ProFrac Holding Corp.                                | CUSIP: 74319N100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2176 | NS      | $16885.76     | 0.56%             |  |  |  | No            |                  1 | On Loan: —       |
| ProPetro Holding Corp          | ProPetro Holding Corp.                               | CUSIP: 74347M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6689 | NS      | $39933.33     | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| RPC Inc                        | RPC, Inc.                                            | CUSIP: 749660106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8157 | NS      | $38582.61     | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV                | Schlumberger N.V.                                    | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     11122 | NS      | $375923.60    | 12.56%            |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions Inc     | Select Water Solutions, Inc.                         | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |      5849 | NS      | $50535.36     | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure  | Solaris Energy Infrastructure, Inc.                  | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |      2731 | NS      | $77259.99     | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenaris SA                     | Tenaris S.A.                                         | CUSIP: 88031M109<br>LEI: 549300Y7C05BKC4HZB40 | Long             | EC               | CORP              | LU        |      2591 | NS      | $96903.40     | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Tidewater Inc                  | Tidewater, Inc.                                      | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |      1683 | NS      | $77636.79     | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Borr Drilling Ltd              | Borr Drilling Ltd.                                   | CUSIP: N/A<br>LEI: 213800J2JPCTXLHQ5R78       | Long             | EC               | CORP              | US        |     19009 | NS      | $34786.47     | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC  | Weatherford International plc                        | CUSIP: N/A<br>LEI: 529900LPBDSCQDJKHQ39       | Long             | EC               | CORP              | US        |      2084 | NS      | $104846.04    | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Nabors Industries Ltd          | Nabors Industries Ltd.                               | CUSIP: N/A<br>LEI: 5493008TXYN3II3PU369       | Long             | EC               | CORP              | US        |       656 | NS      | $18381.12     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Noble Corp PLC                 | Noble Corporation plc                                | CUSIP: N/A<br>LEI: 549300I3HBUNXO0OG954       | Long             | EC               | CORP              | US        |      3721 | NS      | $98792.55     | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Seadrill Ltd                   | Seadrill Ltd.                                        | CUSIP: N/A<br>LEI: 213800EQ6L456U2JCO89       | Long             | EC               | CORP              | US        |      2537 | NS      | $66596.25     | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                 | TechnipFMC plc                                       | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | US        |      3512 | NS      | $120953.28    | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Valaris Ltd                    | Valaris Ltd.                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      2015 | NS      | $84851.65     | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Transocean Ltd                 | Transocean Ltd.                                      | CUSIP: N/A<br>LEI: 529900QO4W5DQGBGEF32       | Long             | EC               | CORP              | US        |     24859 | NS      | $64384.81     | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Expro Group Holdings NV        | Expro Group Holdings N.V.                            | CUSIP: N/A<br>LEI: 724500LJYA8QIT73H017       | Long             | EC               | CORP              | US        |      5900 | NS      | $50681.00     | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES, INC.          | BofA Securities, Inc.                                | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |      5030 | PA      | $5029.85      | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.          | Barclays Capital, Inc.                               | CUSIP: N/A<br>LEI: AC28XWWI3WIBK2824319       | Long             | RA               | CORP              | US        |      5209 | PA      | $5208.90      | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC     | J.P. Morgan Securities LLC                           | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | RA               | CORP              | US        |     12072 | PA      | $12071.63     | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** Rydex Variable Trust

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** CFO